How to calculate the VAT payable if the selling price, the difference between the sales price and the purchase price are known. How do you calculate the VAT payable if you know the selling price, the

How to calculate the VAT payable if the selling price, the difference between the sales price and the purchase price are known. How do you calculate the VAT payable if you know the selling price, the difference between the sales price and the purchase price and the purchase price? VAT payable = output tax - input tax

When the selling price does not include tax

Output tax = selling price * 17% (for general VAT payers)

When tax is included, then Output tax = Selling price/(1+17%)*17%

When you know the difference between the selling price and the purchasing price, then you will be able to calculate the input tax as well

And then, you will be able to figure out the VAT payable. It's done.