China VAT Calculator

Value added tax was introduced in China in the year 1984. Initially, the standard VAT rate of 17 % was collected for exports and imports and reduced rates of 13 % and 6 % was collected. Later, it was reformed in the year 2007, with rate of 11 % for transport, telecom, postal and 6 % for IT, Telecom, consulting, broadcast etc.,

China GST Calculation

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Value added tax was introduced in China in the year 1984. Initially, the standard VAT rate of 17 % was collected for exports and imports and reduced rates of 13 % and 6 % was collected. Later, it was reformed in the year 2007, with rate of 11 % for transport, telecom, postal and 6 % for IT, Telecom, consulting, broadcast etc.,

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 People's Republic of China (GST % is 17) for an amount of 25000 ¥

Add Tax

Solution :
GST % = 17
Amount = 25000

Step 1 :
GST Price = (25000 * 17 ) / 100
     = 4250 ¥

Step 2 :
Net Price = 25000 + 4250
     = 29250 ¥

Hence the VAT Price is 4250 ¥ and Net Price is 29250 ¥

Remove Tax

Solution :
GST % = 17
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 17)))
                 = 25000 - (25000 * 0.85)
                 = 25000 - 21367.52
                 = 25000 - 21367.52
GST Price = 3632.48 ¥

Step 2 :
Net Price = 25000 - 3632.48
                = 21367.52 ¥

Hence the VAT Price is 3632.48 ¥ and Net Price is 21367.52 ¥


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