700 Plus VAT
Here we will answer your query to 700 plus VAT, break down the calculations in a table and give you the formula for adding VAT to the price of 700.
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What Is 700 Plus VAT?
The answer to 700 plus VAT is 861 .
What is 700 plus VAT?
700 plus VAT is calculated below;
861
Breakdown of The Calculation
| Price | Rate | Gross Price | VAT Amount |
|---|---|---|---|
| 700 | 23% | 861 | 161 |
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Formula For Calculating 700 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 = 861
- P = 700
- VAT percentage = 23%
The calculation;
T (861) = 700 x (100 + .23)