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How do I calculate the amount of sales tax that is included in total receipts?

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Question ajoutée par Rana Alnajjar , Web developer , Lebcards
Date de publication: 2016/12/25
Nazmul Islam CMA
par Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

Say sales tax is 15%.

The formulae will be:   15/(100+15)

manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

To calculate the sales tax that is included in a company's receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06. If the sales tax rate is 7.25%, divide the total receipts by 1.0725.

Abdullah Aziz Eldain Morsi  Elgendy -        CMA  Candidate
par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

divide the receipts by 1 + the sales tax rate like

 if receipt 300 , sales rate  7%

sales tax=2/(1+7%)=1.869

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