Open Site Navigation
  • admin496771

Understanding FBAmultitool VAT Calculations.



VAT to be remitted –This is when you deduct your selling VAT from your Buying VAT giving you a true idea of what VAT is owed. Example – 20% VAT

---------------------------------


Buy price (exc. VAT) 8.33 Buy Price (Inc. VAT) 10

Difference 1.67 VAT

---------------------------------

Sell Price (exc. VAT) 16.67

Sell Price (Inc. VAT) 20

Difference 3.33 VAT

-------------------------------

VAT to be remitted (What you owe the VAT man)

Buy Price 8.33 + 1.67 VAT (claim) Sell Price 16.67 + 3.33 VAT (owe)


= 3.33 – 1.67

= 1.66 owed in VAT


Disable VAT remitted- This is simply when you don’t claim any VAT on your purchases and you just pay the VAT owed.


Example – 20% VAT

---------------------------------


Sell Price (exc. VAT) 16.67

Sell Price (Inc. VAT) 20

Difference 3.33 VAT

---------------------------------

VAT OWED = 3.33 (We’re not claiming anything from the purchase)

4 views0 comments