VAT calculator. How to exclude or add VAT from an amount?
To exclude VAT from an amount, you can use the formula:
Amount excluding VAT = Amount including VAT / (1 + VAT rate)
For example, if the amount including VAT is 100 and the VAT rate is 0.2 (or 20%), the amount excluding VAT would be: 100 / (1 + 0.2) = 83.33
To add VAT to an amount, you can use the formula:
Amount including VAT = Amount excluding VAT x (1 + VAT rate)
For example, if the amount excluding VAT is 100 and the VAT rate is 0.2 (or 20%), the amount including VAT would be: 100 x (1 + 0.2) = 120.
To save time, you can use online VAT calculation tools like this (https://toolama.com/vat-calculator). They usually have formulas built in for including and excluding VAT from the amount.
Here are some more tools for calculating VAT:
VAT Calculation Spreadsheet: This is an excel based tool that helps you to calculate VAT, Sales and Purchase invoices, Ledger and Trial balance.
VAT Calculation App: There are many mobile apps available for VAT calculation, these apps allows you to calculate VAT on the go and also save the calculation history for future reference.
Example for iOS: https://apps.apple.com/gb/app/vat-calculator-tax-me/id840008446
Example for Android: https://play.google.com/store/apps/details?id=sebastien.bouneb.calculer_tva_france&hl=en&gl=US