VAT Calculator Czech Republic

Czech Republic became a member state of the European Union from May 1, 2014 and the VAT tax regime was introduced in the year 1993. The standard rate is 21 % since 2013 and reduced rate of 15 % is collected for books, newspapers, cultural, sports, foods, etc., and 10 % is collected for medicines, e books etc., Foreign companies providing local goods and services need to register for the Czech Republic VAT. But, for other EU companies there are certain conditions for which registration is required.

Value Added Tax Calculation

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Czech Republic became a member state of the European Union from May 1, 2014 and the VAT tax regime was introduced in the year 1993. The standard rate is 21 % since 2013 and reduced rate of 15 % is collected for books, newspapers, cultural, sports, foods, etc., and 10 % is collected for medicines, e books etc., Foreign companies providing local goods and services need to register for the Czech Republic VAT. But, for other EU companies there are certain conditions for which registration is required.

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

Example

Find the VAT price and net price in Czech Republic (GST % is 21) for an amount of 25000 Kč

Add Tax

Solution :
GST % = 21
Amount = 25000

Step 1 :
GST Price = (25000 * 21 ) / 100
     = 5250 Kč

Step 2 :
Net Price = 25000 + 5250
     = 30250 Kč

Hence the VAT Price is 5250 Kč and Net Price is 30250 Kč

Remove Tax

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 Kč

Step 2 :
Net Price = 25000 - 4338.84
                = 20661.16 Kč

Hence the VAT Price is 4338.84 Kč and Net Price is 20661.16 Kč


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