Jordan sales rate is 16% for goods and services. VAT is collected here as General Sales tax, under two categories. General sales tax at a rate of 16% is collected for the supply of taxable goods or services and importation of taxable goods or services. Taxes collected at a reduced rate of 4% for specified agricultural products, fruits, meat, vegetables and live animals. Taxes are exempted for the energy-saving products and pharmaceutical industries.
Jordan sales rate is 16% for goods and services. VAT is collected here as General Sales tax, under two categories. General sales tax at a rate of 16% is collected for the supply of taxable goods or services and importation of taxable goods or services. Taxes collected at a reduced rate of 4% for specified agricultural products, fruits, meat, vegetables and live animals. Taxes are exempted for the energy-saving products and pharmaceutical industries.
Find the VAT price and net price in Jordan (GST % is 16) for an amount of 25000 JOD
Solution :
GST % = 16
Amount = 25000
Step 1 :
GST Price = (25000 * 16 ) / 100
= 4000 JOD
Step 2 :
Net Price = 25000 + 4000
= 29000 JOD
Hence the VAT Price is 4000 JOD and Net Price is 29000 JOD
Solution :
GST % = 16
Amount = 25000
Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 16)))
= 25000 - (25000 * 0.86)
= 25000 - 21551.72
= 25000 - 21551.72
GST Price = 3448.28 JOD
Step 2 :
Net Price = 25000 - 3448.28
= 21551.72 JOD
Hence the VAT Price is 3448.28 JOD and Net Price is 21551.72 JOD
