How to calculate value-added tax introduction to the latest calculation method of value-added tax
VAT calculation is basically the following concepts:
1. Sales = sales revenue including tax / (1 + 17%)
2. Sales revenue including tax = sales * (1 + 17%)
=Sales + sales * 17%
=Sales + output tax (or input tax)
3. Output tax (or input tax) = sales revenue including tax / (1 + 17%) * 17% = sales * 17%