Argentinian value added tax is collected at a standard rate of 21 %. The tax is collected at every stage of manufacturing and distribution process. However it is enough for the citizens to pay tax only on the value added.
There is a reduced tax amount of 10.5 % for certain goods and services including sales and import of cattle or sheep, import of fruits and vegetables under certain conditions, etc...
Argentinian value added tax is collected at a standard rate of 21 %. The tax is collected at every stage of manufacturing and distribution process. However it is enough for the citizens to pay tax only on the value added.
There is a reduced tax amount of 10.5 % for certain goods and services including sales and import of cattle or sheep, import of fruits and vegetables under certain conditions, etc...
There is also increased tax of 27 % for certain services including telecommunication services, few other services. Some services are also exempted from VAT.
Find the VAT price and net price in Argentina (GST % is 21) for an amount of 25000 $
Solution :
GST % = 21
Amount = 25000
Step 1 :
GST Price = (25000 * 21 ) / 100
= 5250 $
Step 2 :
Net Price = 25000 + 5250
= 30250 $
Hence the VAT Price is 5250 $ and Net Price is 30250 $
Solution :
GST % = 21
Amount = 25000
Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 21)))
= 25000 - (25000 * 0.83)
= 25000 - 20661.16
= 25000 - 20661.16
GST Price = 4338.84 $
Step 2 :
Net Price = 25000 - 4338.84
= 20661.16 $
Hence the VAT Price is 4338.84 $ and Net Price is 20661.16 $
There is also increased tax of 27 % for certain services including telecommunication services, few other services. Some services are also exempted from VAT.
