Value Added Tax VAT Calculator

This simple calculator allows, in addition to the basic mathematical operations, calculations to VAT, VAT included and VAT excluded for various countries of the world.With its three screens allows the values ​​and calculations made in one of them to automatically be reflected in the others.The calculation of VAT is a necessary but very tedious element in the life of an entrepreneur or freelancer.As customer for example you can calculate, how much a specific product would cost without the VAT. As a business owner you could easily calculate, how much you have to add to the price of a product.The basic operations of calculations are also present to make your life easier.A value-added tax (VAT) or also goods and services tax (GST) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.The purpose of VAT is to generate tax revenues to the government similar to the corporate income tax or the personal income tax.The value added to a product by or with a business is the sale price charged to its customer, minus the cost of materials and other taxable inputs. A VAT is like a sales tax in that ultimately only the end consumer is taxed. It differs from the sales tax in that, with the latter, the tax is collected and remitted to the government only once, at the point of purchase by the end consumer. With the VAT, collections, remittances to the government, and credits for taxes already paid occur each time a business in the supply chain purchases products.