Taiwan VAT Calculator

In Taiwan, the current standard rate for VAT is 5%. Higher rate of 15% is imposed on entertainment and restaurants, 25% on establishments providing female meeting services. A reduced rate of 3% is collected on foreign investment company services, 2% on financial services and 1% on reinsurance services.

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In Taiwan, the current standard rate for VAT is 5%. Higher rate of 15% is imposed on entertainment and restaurants, 25% on establishments providing female meeting services. A reduced rate of 3% is collected on foreign investment company services, 2% on financial services and 1% on reinsurance 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

Value added tax is exempt for sale of land, water supplied to farmland for irrigation, certain medical services, certain social welfare services, certain educational services, certain educational or academic publications, the goods or services sold by student-run shops of vocational schools which do not serve outsiders, certain publications, etc.

Example

Find the VAT price and net price in Taiwan (GST % is 5) for an amount of 25000 NT$

Add Tax

Solution :
GST % = 5
Amount = 25000

Step 1 :
GST Price = (25000 * 5 ) / 100
     = 1250 NT$

Step 2 :
Net Price = 25000 + 1250
     = 26250 NT$

Hence the VAT Price is 1250 NT$ and Net Price is 26250 NT$

Remove Tax

Solution :
GST % = 5
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 5)))
                 = 25000 - (25000 * 0.95)
                 = 25000 - 23809.52
                 = 25000 - 23809.52
GST Price = 1190.48 NT$

Step 2 :
Net Price = 25000 - 1190.48
                = 23809.52 NT$

Hence the VAT Price is 1190.48 NT$ and Net Price is 23809.52 NT$

Value added tax is exempt for sale of land, water supplied to farmland for irrigation, certain medical services, certain social welfare services, certain educational services, certain educational or academic publications, the goods or services sold by student-run shops of vocational schools which do not serve outsiders, certain publications, etc.


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