Saint Kitts and Nevis VAT Calculator

VAT was introduced by Saint Kitts and Nevis in November, 2010. Standard rate for the St. Kitts and Nevis is 17 % as introduced initially which applies to general services. In 2015, value added tax was exempted for products like medicine, foods and funeral expenses. Zero rate is imposed on bread, fuel,flour, oats, rice, sugar etc., Registration of Value Added Tax is made compulsory for businesses having annual turnover of XCD 150,000.

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VAT was introduced by Saint Kitts and Nevis in November, 2010. Standard rate for the St. Kitts and Nevis is 17 % as introduced initially which applies to general services. In 2015, value added tax was exempted for products like medicine, foods and funeral expenses. Zero rate is imposed on bread, fuel,flour, oats, rice, sugar etc., Registration of Value Added Tax is made compulsory for businesses having annual turnover of XCD 150,000.

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 Saint Kitts and Nevis (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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