How Do I Extract The Vat From The Total Price Of Something To Give Me The Net Profit?


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Steven Vakula Profile
Steven Vakula answered
You would remove the VAT percentage by dividing the total with VAT by 1+VAT Rate. Then subtract this from the total.
thanked the writer.
Anonymous commented
Hi if iv got the sum 293.75 and thats all the info i have how do extract the vat and find the answer
Steven Vakula
Steven Vakula commented
You need to know what the VAT rate is? I believe it is usually aroung 10 or 15% of the item purchased. In this scenario if Total with VAT is 293.75-(293.75/1.15) or 293.75-255.43=38.32VAT

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