VAT – Value Added Tax
Value Added Tax (VAT) is a sales tax that is imposed on the sale of goods and services. Each stage of production or distribution incrementally collects it based on the added value at that stage. VAT is widely used across many countries, especially in the United Kingdom (UK), around the world as a key source of government revenue.
How can you calculate VAT with this tool?
Using our Online VAT calculator, you can easily compute VAT amounts in just a few simple steps. The tool offers intuitive fields to fill out and automatically calculates VAT based on your inputs.
- Enter the price of the goods or services in the Amount field.
- Select your VAT rate percentage from the dropdown, i.e., automatically set to standard rate 20%.
- VAT Operation can be used to Add VAT or Remove VAT
- If the price you entered adding VAT, the calculator will determine the original price before VAT and the VAT amount included.
- If the price you entered removing VAT, the calculator will add VAT to the amount and display the total price including VAT.
- Click on “Calculate” button to proceed.
Read more about VAT tax on Wikipedia.