Maldives GST Calculator

The 6% GST tax rate in Maldives was first introduced in January 1st 2012, which has been increased to a rate of 8% from January 2013. Tourism GST remains 6% to sales and immovable property. However leasing of immovable property is exempted. A standard rate of 6 % (value added tax) is collected for goods and services.

Value Added Tax in Maldives

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The 6% GST tax rate in Maldives was first introduced in January 1st 2012, which has been increased to a rate of 8% from January 2013. Tourism GST remains 6% to sales and immovable property. However leasing of immovable property is exempted. A standard rate of 6 % (value added tax) is collected for goods and 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

Example

Find the VAT price and net price in Maldives (GST % is 6) for an amount of 25000

Add Tax

Solution :
GST % = 6
Amount = 25000

Step 1 :
GST Price = (25000 * 6 ) / 100
     = 1500

Step 2 :
Net Price = 25000 + 1500
     = 26500

Hence the VAT Price is 1500 and Net Price is 26500

Remove Tax

Solution :
GST % = 6
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 6)))
                 = 25000 - (25000 * 0.94)
                 = 25000 - 23584.91
                 = 25000 - 23584.91
GST Price = 1415.09

Step 2 :
Net Price = 25000 - 1415.09
                = 23584.91

Hence the VAT Price is 1415.09 and Net Price is 23584.91


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