The standard tax rate of Netherland is 21%. A reduced rate of 6% is collected for the supplies, imports, and acquisition of goods and services. The reduced rate is mainly applicable to foodstuffs and medicines. There are 3 VAT tariffs in the Netherlands: 0 % , 6 % and 21 % (since 1 October 2012). The 6% tariff is called as the low tariff and 21% tariff is also called the high or general tariff.
The standard tax rate of Netherland is 21%. A reduced rate of 6% is collected for the supplies, imports, and acquisition of goods and services. The reduced rate is mainly applicable to foodstuffs and medicines. There are 3 VAT tariffs in the Netherlands: 0 % , 6 % and 21 % (since 1 October 2012). The 6% tariff is called as the low tariff and 21% tariff is also called the high or general tariff.
Find the VAT price and net price in Netherlands (GST % is 21) for an amount of 25000 €
Solution :
GST % = 21
Amount = 25000
Step 1 :
GST Price = (25000 * 21 ) / 100
= 5250 €
Step 2 :
Net Price = 25000 + 5250
= 30250 €
Hence the VAT Price is 5250 € and Net Price is 30250 €
Solution :
GST % = 21
Amount = 25000
Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 21)))
= 25000 - (25000 * 0.83)
= 25000 - 20661.16
= 25000 - 20661.16
GST Price = 4338.84 €
Step 2 :
Net Price = 25000 - 4338.84
= 20661.16 €
Hence the VAT Price is 4338.84 € and Net Price is 20661.16 €
