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10 cards from this deck
14%
Total amount ×14114\times \frac{14}{114}×11414
Base amount ×14100\times \frac{14}{100}×10014
VAT charged on sales to customers
VAT paid on purchases from suppliers
VAT Output −-− VAT Input
14 = VAT rate, 114 = total (100 + 14)
14 = VAT rate, 100 = base before VAT
When price already includes VAT
To cost price first, then calculate VAT on selling price
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