VAT Calculator Philippines | Compute Your VAT at PH 12% Rate Now
The standard VAT Rate is 12%. Now you can compute the VAT bill with our VAT Calculator Philippines.
VAT Philippines Computation
Vat Calculator Philippines Ph
- Select your country; the vat calculator will automatically detect the updated Philippines vat rate
- Enter the amount
- Add Tax or Remove Tax
- Press the calculate button to see the result
How to calculate 12% VAT Philippines
Formula:
Add Tax
Tax Amount = ( Original Cost * VAT% ) / 100
Net Price = Original Cost + Tax Amount
Remove Tax
Tax Amount = Original Cost – ( Original Cost * ( 100 / ( 100 + VAT% ) ) )
Net Price = Original Cost – Tax Amount
Example
Find the VAT price and net price in Nepal (GST % is 12) for an amount of 30000 ₱
Add Tax
Solution :
GST % = 12
Amount = 30000
Step 1 :
GST Price = (30000 * 12 ) / 100
= 3600 ₱
Step 2 :
Net Price = 30000 + 3600
= 33600 ₱
Hence the VAT Price is 3600 ₱ and Net Price is 33600 ₱
Remove Tax
Solution :
GST % = 12
Amount = 30000
Step 1 :
GST Price = 30000 – (30000 * ( 100 / (100 + 12)))
= 30000 – (30000 * 0.88)
= 30000 – 26400
GST Price = 3600 ₱
Step 2 :
Net Price = 30000 – 3600
= 26400 ₱
Hence the VAT Price is 3600 ₱ and Net Price is 26400 ₱
Different VAT Tariffs in the Ph:
The Different VAT Tariffs that are currently applicable in the Philippines are:
The standard rate of 12%:
This is applied to all products and services that are taxable. Some of the supplies that are liable to this 12% VAT rate are:
- Barter
- Sale
- Lease or Use of Properties in the course of business or trade-in Philippines and other sales of services
- Imports
- Exchange of Properties or Goods in the course of business or trade in the Philippines
The Higher rate of 18%:
This is applied as an “Amusement Tax” on bars, nightclubs, cabarets, etc.
Zero-Rated VAT:
Zero-rated VAT is applied to some services, for instance:
- Exports
- Sale of some agricultural goods in addition to their import
- Domestic Gas
- Passenger Transport
- Water
- Insurance
- Financial Services
- Real Estate
- Books
- Medical Supplies
- Newspapers
- Renewable Energy
- Passenger Transport
- International Shipping
Goods and Services Exempted from VAT in the Philippines:
Some several products and services are exempted from VAT in the Philippines, for instance:
- Some Residential Sales
- Certain Residential Leases
- Employment
- Educational Services
- Sale of Agricultural goods such as rice, seeds, corn grits, fertilizers, etc.
- Import of Agricultural goods such as rice, seeds, corn grits, and fertilizers.
- Books’ Sale
- Newspapers’ Sale
- Fuel Imports
- Bank Services
Also visit VAT Calculator South Africa
FAQs:
Q: Does the Philippines charge 12% VAT?
Yes, VAT is charged in the Ph. The standard rate of VAT is 12%. There is also a higher rate of 18% along with zero-rated VAT. Furthermore, some products and services are exempted from VAT.
Q: When was VAT introduced in the Philippines?
The Philippines got introduced VAT in 1988 through Executive Order 273. But at that time, only a limited number of goods and services were covered by it.
Q: Is Rice VAT exempt in the Philippines?
Yes, Rice is exempted from VAT in the Philippines. There are also other exemptions, for instance, agricultural goods’ imports and sales, educational services, books sales, Newspapers sales, Fuel Imports, Bank services, etc.
Q: Who pays VAT in the Philippines, the seller or the buyer?
The Seller charges the VAT while the buyer pays the VAT. The Seller then collects the VAT, paid by the buyer, and pays it to the Government.
Q: Do the Philippines have a reduced VAT Rate?
No, the Philippines doesn’t have a reduced VAT rate. But it does have a higher vat rate of 18%. Additionally, some products and services are charged zero-rated VAT, while some are exempted from VAT.
How to compute vat Philippines
To compute VAT in the Philippines, multiply the taxable amount by the current VAT rate, then add the resulting value to the original amount.
12% Vat Philippines is a very handy tool, do your task with a few clicks.
Read More: How to check 600 plus VAT
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