Add tax to a price, or take it out. Any rate, any currency, with the working shown.
Two questions come up all the time: what is the price with tax, and how much of this total is tax? This answers both, and shows the sum so you can check it.
Divide the total by 1 plus the rate. At 7.5%, divide by 1.075. At 20%, divide by 1.2. The difference between the total and that result is the tax.
Rates differ by country and sometimes by product, and they change. The presets are a starting point; confirm the current rate with your tax authority.
They are similar taxes on spending with different names and rules. The arithmetic here works for all of them.
Provided free, as is, for general use. It is not legal, tax, accounting or financial advice. Check that your document or figure meets the rules where you are before you rely on it. Preset rates are for convenience and may be out of date or not apply to your product. Confirm the correct rate with your tax authority or adviser.
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