Philippines VAT Calculator

Value added tax system in Philippines is governed by Bureau of Internal Revenue. VAT is a indirect tax collected for the sale, exchange and lease of all movable goods and services. Standard tax rate of Philippines is 12 percent. VAT is imposed on the buyer, transferee or lessee of goods, properties or services.

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Value added tax system in Philippines is governed by Bureau of Internal Revenue. VAT is a indirect tax collected for the sale, exchange and lease of all movable goods and services. Standard tax rate of Philippines is 12 percent. VAT is imposed on the buyer, transferee or lessee of goods, properties or services.

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 Philippines (GST % is 12) for an amount of 25000 ₱

Add Tax

Solution :
GST % = 12
Amount = 25000

Step 1 :
GST Price = (25000 * 12 ) / 100
     = 3000 ₱

Step 2 :
Net Price = 25000 + 3000
     = 28000 ₱

Hence the VAT Price is 3000 ₱ and Net Price is 28000 ₱

Remove Tax

Solution :
GST % = 12
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 12)))
                 = 25000 - (25000 * 0.89)
                 = 25000 - 22321.43
                 = 25000 - 22321.43
GST Price = 2678.57 ₱

Step 2 :
Net Price = 25000 - 2678.57
                = 22321.43 ₱

Hence the VAT Price is 2678.57 ₱ and Net Price is 22321.43 ₱


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