How to use it
- Use the formula below with your own figures.
The formula
VAT = net × rate; gross = net × (1+rate).
Worked example
€100 net at 20% VAT is €120 gross.
Frequently asked questions
Add or remove?
This does both directions.
Which rate?
Use your country's standard or reduced rate.
Tips
- Know your marginal vs effective rate.
- Set money aside as you earn if tax isn't withheld.
- Keep receipts for anything deductible.
Key terms
- Marginal rate
- The rate on your top slice of income.
- Effective rate
- Your overall average tax rate.
- Deduction
- An amount subtracted from taxable income.