Jersey VAT Calculator

Jersey imposes the VAT in the name of General Sales Tax. GST taxation was introduced on 6 May 2008, at a rate of 3%. Currently, GST is charged at the rate of 5%. As the VAT is not collected directly, luxury goods and services is much cheaper in Jersey when compared to France or UK, thus it gain more incentives for tourism from the neighboring countries. Jersey is called as tax haven by lot of organisations and its ranks 9th Safest Tax Haven place in the world.

Jersey General Sales Tax Calculation

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Jersey imposes the VAT in the name of General Sales Tax. GST taxation was introduced on 6 May 2008, at a rate of 3%. Currently, GST is charged at the rate of 5%. As the VAT is not collected directly, luxury goods and services is much cheaper in Jersey when compared to France or UK, thus it gain more incentives for tourism from the neighboring countries. Jersey is called as tax haven by lot of organisations and its ranks 9th Safest Tax Haven place in the world.

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 Jersey (GST % is 5) for an amount of 25000

Add Tax

Solution :
GST % = 5
Amount = 25000

Step 1 :
GST Price = (25000 * 5 ) / 100
     = 1250

Step 2 :
Net Price = 25000 + 1250
     = 26250

Hence the VAT Price is 1250 and Net Price is 26250

Remove Tax

Solution :
GST % = 5
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 5)))
                 = 25000 - (25000 * 0.95)
                 = 25000 - 23809.52
                 = 25000 - 23809.52
GST Price = 1190.48

Step 2 :
Net Price = 25000 - 1190.48
                = 23809.52

Hence the VAT Price is 1190.48 and Net Price is 23809.52


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