VAT Calculator Fiji

VAT is collected in Fiji at the rate of 15 % from the year 2011. A company or individual whose turnover is less than $100,000 need to register compulsory for VAT. Business and local organizations should register with FRCA within 21 days of becoming so liable.

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VAT is collected in Fiji at the rate of 15 % from the year 2011. A company or individual whose turnover is less than $100,000 need to register compulsory for VAT. Business and local organizations should register with FRCA within 21 days of becoming so liable.

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 Fiji (GST % is 15) for an amount of 25000 FJ$

Add Tax

Solution :
GST % = 15
Amount = 25000

Step 1 :
GST Price = (25000 * 15 ) / 100
     = 3750 FJ$

Step 2 :
Net Price = 25000 + 3750
     = 28750 FJ$

Hence the VAT Price is 3750 FJ$ and Net Price is 28750 FJ$

Remove Tax

Solution :
GST % = 15
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 15)))
                 = 25000 - (25000 * 0.87)
                 = 25000 - 21739.13
                 = 25000 - 21739.13
GST Price = 3260.87 FJ$

Step 2 :
Net Price = 25000 - 3260.87
                = 21739.13 FJ$

Hence the VAT Price is 3260.87 FJ$ and Net Price is 21739.13 FJ$


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