Serbia VAT Calculator

Serbian VAT is collected at a standard rate of 20 % since 2012 and a reduced rate of 10 %. The standard rate is imposed on supply of goods and services, importation of goods and advance payment collection. The reduced rate applies to gas, food stuffs, cultural and any other live events. some services have been exempted from VAT.

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Serbian VAT is collected at a standard rate of 20 % since 2012 and a reduced rate of 10 %. The standard rate is imposed on supply of goods and services, importation of goods and advance payment collection. The reduced rate applies to gas, food stuffs, cultural and any other live events. some services have been exempted from VAT.

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 Serbia (GST % is 20) for an amount of 25000 Дин.

Add Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = (25000 * 20 ) / 100
     = 5000 Дин.

Step 2 :
Net Price = 25000 + 5000
     = 30000 Дин.

Hence the VAT Price is 5000 Дин. and Net Price is 30000 Дин.

Remove Tax

Solution :
GST % = 20
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 20)))
                 = 25000 - (25000 * 0.83)
                 = 25000 - 20833.33
                 = 25000 - 20833.33
GST Price = 4166.67 Дин.

Step 2 :
Net Price = 25000 - 4166.67
                = 20833.33 Дин.

Hence the VAT Price is 4166.67 Дин. and Net Price is 20833.33 Дин.


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