# VAT Calculator Montenegro

The Value Added Tax in Montenegro was classified into two types Standard Rate and Reduced Rate. The Standard Rate is 19% with effect from July 1st 2013. There are reduced rates of 7% and 0%. Montenegro charges VAT on sale of all goods and services, however exports are not subject to value added tax. Income from financial services such as income, investment, banking are exempted from tax.

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The Value Added Tax in Montenegro was classified into two types Standard Rate and Reduced Rate. The Standard Rate is 19% with effect from July 1st 2013. There are reduced rates of 7% and 0%. Montenegro charges VAT on sale of all goods and services, however exports are not subject to value added tax. Income from financial services such as income, investment, banking are exempted from tax.

#### 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 Montenegro (GST % is 19) for an amount of 25000 €

Solution :
GST % = 19
Amount = 25000

Step 1 :
GST Price = (25000 * 19 ) / 100
= 4750 €

Step 2 :
Net Price = 25000 + 4750
= 29750 €

Hence the VAT Price is 4750 € and Net Price is 29750 €

#### Remove Tax

Solution :
GST % = 19
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 19)))
= 25000 - (25000 * 0.84)
= 25000 - 21008.4
= 25000 - 21008.4
GST Price = 3991.6 €

Step 2 :
Net Price = 25000 - 3991.6
= 21008.4 €

Hence the VAT Price is 3991.6 € and Net Price is 21008.4 €