On 12 June 2014 13:57, Rafael Copquin <rcopquin@fibertel.com.ar> wrote:

> FWIW in Argentina VAT is 21%

>

> We simply calculate VAT as: net * 0.21 = VAT

> Gross = net + VAT

> or Gross = net * 1.21

Yes, exactly what I do.

So to remove VAT from Gross you can do:

e.g.

55 * 1.21 = 66.55

66.55 - 55 = 11.55

or:

66.55 * 21 / 121 = 11.55

I have no problem with either method, but I am being instructed by the

tax authorities to use a fixed value instead of "21 / 121".

This causes rounding errors.

> It gets a little bit more complicated because there are different categories

> of VAT tax payers:

It's not uncommon.

--

Paul

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