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Hi.
Either I have completely misunderstood something or there is a bug with TC.
We have ticked "Prices is specified with VAT" on the store, and have set the default VAT to 20%.
But when we render order.SubtotalPrice.VatFormatted we get a weird vat calculation of 17,666%
This is how the properties look like on the order:
And the TotalPrice property:
Any suggestions?
Hi Kristian,
The VAT is an amount, not a percentage: £17.67 is 20% of your Value (which is £88.33 from that second screenshot).
Cheers,
Maff
Yes. But the value without vat should be £80, as we have set the VAT to 20%
On the product the value is £100 as we want it set there including the VAT
Hi Kristian
If you product is price £100 incl VAT and the VAT rate is 20, then price with out vat is 100 / (1 + 0,2) = 83,33£.
If the price including vat is 100£ and the price without should be 80 - then your vat rate need to be 25%. 100 / (1 + 0,25) = 80£
So it think it is right.
Kind regardsAnders
you're right.
I need to pull myself together.
is working on a reply...
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VAT is not calculated correctly
Hi.
Either I have completely misunderstood something or there is a bug with TC.
We have ticked "Prices is specified with VAT" on the store, and have set the default VAT to 20%.
But when we render order.SubtotalPrice.VatFormatted we get a weird vat calculation of 17,666%
This is how the properties look like on the order:
And the TotalPrice property:
Any suggestions?
Hi Kristian,
The VAT is an amount, not a percentage: £17.67 is 20% of your Value (which is £88.33 from that second screenshot).
Cheers,
Maff
Yes. But the value without vat should be £80, as we have set the VAT to 20%
On the product the value is £100 as we want it set there including the VAT
Hi Kristian
If you product is price £100 incl VAT and the VAT rate is 20, then price with out vat is 100 / (1 + 0,2) = 83,33£.
If the price including vat is 100£ and the price without should be 80 - then your vat rate need to be 25%. 100 / (1 + 0,25) = 80£
So it think it is right.
Kind regards
Anders
you're right.
I need to pull myself together.
is working on a reply...