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Canadians taxes conversion…
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Forum:
Visual FoxPro
Category:
Coding, syntax & commands
Miscellaneous
Thread ID:
00614654
Message ID:
00614657
Views:
16
I am looking for a formula that can give me the amount of sale before tax.

standdard financil formula for calculating of taxes is:

Price exl. tax *(1+tax/100)=Price incl. tax

Price incl. tax /(1+tax/100)= Price exl. tax ,

tax = %tax, as example let suppose that tax = 20%

$100 * (1 +20/100)=$120

$120 / (1 +20/100)=$100

of cource do not forget rounding some times it creates a lot of problems if you look for mark up a few times.



I have a amount and I know the rate of Canadians taxes ( GST and PST) and I like to found out was the amount before taxes for the GST and PST.

Price incl. tax /(1+(GST+PST)/100)= Price exl. tax


Any one did this before?
If you need code I will ask my POS and warehouse team leader to derive it from our application.
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