Monaco VAT Calculator

The commonly applied Value Added Tax rates in Monaco are the usual rate of 20% and the reduced rate of 10%. However some basic products are rated 5.5%. Earlier the usual rate is 7% and the reduced rate is 19.6% which has been raised to the new value with effect from January 1st 2014.

Other Countries
Australia   Argentina   Brazil   Canada   Denmark    Egypt    Finland    France    Germany    Greece    Hungary    Italy    Indonesia    India    Japan    China    Malaysia    Mexico    Netherlands    New-Zealand    Russia    Singapore    Spain    South Africa    Switzerland    Thailand    United Kingdom    United States    Vietnam   

The commonly applied Value Added Tax rates in Monaco are the usual rate of 20% and the reduced rate of 10%. However some basic products are rated 5.5%. Earlier the usual rate is 7% and the reduced rate is 19.6% which has been raised to the new value with effect from January 1st 2014.

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 Monaco (GST % is 20) for an amount of 25000 €

Add Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = (25000 * 20 ) / 100
     = 5000 €

Step 2 :
Net Price = 25000 + 5000
     = 30000 €

Hence the VAT Price is 5000 € and Net Price is 30000 €

Remove Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 20)))
                 = 25000 - (25000 * 0.83)
                 = 25000 - 20833.33
                 = 25000 - 20833.33
GST Price = 4166.67 €

Step 2 :
Net Price = 25000 - 4166.67
                = 20833.33 €

Hence the VAT Price is 4166.67 € and Net Price is 20833.33 €


english Calculators and Converters

Ask a Question


Sitemap