Palestine VAT Calculator

Palestine follows complex taxation system, which was implemented during Israeli–Palestinian conflict. Palestinian Authority collected the total of $34 million per month for the taxes and other charges. Among this, $15 million was collected as VAT for the payment of water and power bills from Palestinians. 16% tax is imposed on large companies, banks and other financial companies. Non profit organization is exempted from the value added tax pay.

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Palestine follows complex taxation system, which was implemented during Israeli–Palestinian conflict. Palestinian Authority collected the total of $34 million per month for the taxes and other charges. Among this, $15 million was collected as VAT for the payment of water and power bills from Palestinians. 16% tax is imposed on large companies, banks and other financial companies. Non profit organization is exempted from the value added tax pay.

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 Palestine (GST % is 16) for an amount of 25000

Add Tax

Solution :
GST % = 16
Amount = 25000

Step 1 :
GST Price = (25000 * 16 ) / 100
     = 4000

Step 2 :
Net Price = 25000 + 4000
     = 29000

Hence the VAT Price is 4000 and Net Price is 29000

Remove Tax

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

Step 2 :
Net Price = 25000 - 3448.28
                = 21551.72

Hence the VAT Price is 3448.28 and Net Price is 21551.72


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