VAT Calculator El Salvador

El salvador value added tax was implemented in September 1992 at 10%, then it was increased to 13% in July 1995. VAT is applicable for transaction of goods and services, excluding the leasing of housing, purchases of goods and services provided by government institutions, public and cultural events, and insurance and education services.

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El salvador value added tax was implemented in September 1992 at 10%, then it was increased to 13% in July 1995. VAT is applicable for transaction of goods and services, excluding the leasing of housing, purchases of goods and services provided by government institutions, public and cultural events, and insurance and education services.

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

VAT revenue has increased the GDP growth of the country, from 4.9% in 2007 to 6.4 % in 2008. VAT rate in El salvador is the highest in Latin America.

Example

Find the VAT price and net price in El Salvador (GST % is 13) for an amount of 25000 ₡

Add Tax

Solution :
GST % = 13
Amount = 25000

Step 1 :
GST Price = (25000 * 13 ) / 100
     = 3250 ₡

Step 2 :
Net Price = 25000 + 3250
     = 28250 ₡

Hence the VAT Price is 3250 ₡ and Net Price is 28250 ₡

Remove Tax

Solution :
GST % = 13
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 13)))
                 = 25000 - (25000 * 0.88)
                 = 25000 - 22123.89
                 = 25000 - 22123.89
GST Price = 2876.11 ₡

Step 2 :
Net Price = 25000 - 2876.11
                = 22123.89 ₡

Hence the VAT Price is 2876.11 ₡ and Net Price is 22123.89 ₡

VAT revenue has increased the GDP growth of the country, from 4.9% in 2007 to 6.4 % in 2008. VAT rate in El salvador is the highest in Latin America.


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