# ICMS Calculator

Value added tax or GST is collected as ICMS in Brazil. It is a multi level taxation system with different tax levels for different type of transactions. Intra State transactions are charged 17 or 19 %. Interstate transactions are charged at 7 or 12 %. Imported goods are charged between 18 to 25 %.

## Brazil VAT Calculation

Other Countries

Value added tax or GST is collected as ICMS in Brazil. It is a multi level taxation system with different tax levels for different type of transactions. Intra State transactions are charged 17 or 19 %. Interstate transactions are charged at 7 or 12 %. Imported goods are charged between 18 to 25 %.

#### Formula:

Add Tax Tax Amount = ( Original Cost * VAT% ) / 100 Net Price = Original Cost + Tax Amount
Remove Tax Tax Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + VAT% ) ) ) Net Price = Original Cost - Tax Amount

The abbreviation of the Brazil ICMS is "Imposto de Circulação de Mercadorias e Serviços".

### Example

Find the VAT price and net price in Brazil (GST % is 17) for an amount of 25000 R\$

Solution :
GST % = 17
Amount = 25000

Step 1 :
GST Price = (25000 * 17 ) / 100
= 4250 R\$

Step 2 :
Net Price = 25000 + 4250
= 29250 R\$

Hence the VAT Price is 4250 R\$ and Net Price is 29250 R\$

#### Remove Tax

Solution :
GST % = 17
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 17)))
= 25000 - (25000 * 0.85)
= 25000 - 21367.52
= 25000 - 21367.52
GST Price = 3632.48 R\$

Step 2 :
Net Price = 25000 - 3632.48
= 21367.52 R\$

Hence the VAT Price is 3632.48 R\$ and Net Price is 21367.52 R\$

The abbreviation of the Brazil ICMS is "Imposto de Circulação de Mercadorias e Serviços".