Forums » Discussions » Multiple Taxes
Tax 1:Excise tax=15%
Text 2:Value Added Tax (VAT)=16%
Required formula (Principle x Excise Tax) VAT= Total
The CRM formula is as follows: (Main x Excise Tax) + (Main VAT) = Total
Example: (Principle x Excise Tax) x VAT= Total
The amount excluding VAT and excise tax is 17,240.63 kgf,
EXCISE TAX - 15% =Kshs 2,586,09
Amount Including Excise Tax=19,826. 72
VAT - 16%=Kshs3, 172, 28
Total=Kshs 22,999. 00
I think the guy above is right. In my experience, the more taxes corporations pay, the less we pay. This is due to many factors and it can be found on the Internet. I do business, of course it is not a huge corporation, but a normal restaurant chain and I also pay taxes that I calculate on the tax calculator on taxes that I calculate on the tax calculator and therefore I understand what taxes the staff pays in my restaurants and what taxes I pay personally on behalf of the company itself. I can also say that the taxes on behalf of the company are much less in percentage than the taxes of workers and staff, this difference is actually palpable
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