70 Plus VAT
Here we will answer your query to 70 plus VAT, break down the calculations in a table and give you the formula for adding VAT to the price of 70.
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What Is 70 Plus VAT?
The answer to 70 plus VAT is 86.1 .
What is 70 plus VAT?
70 plus VAT is calculated below;
86.1
Breakdown of The Calculation
| Price | Rate | Gross Price | VAT Amount |
|---|---|---|---|
| 70 | 23% | 86.1 | 16.1 |
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Formula For Calculating 70 Plus VAT
If you are adding Value Added Tax; then you need to multiply the price by (100 + VAT percentage). This is the price, including VAT (Gross value)
The formula for adding VAT To A Price;
T = P x (100 + VAT percentage)
Formula explained in this case;
- T = 86.1
- P = 70
- VAT percentage = 23%
The calculation;
T (86.1) = 70 x (100 + .23)