How does tax calculation work in Loyverse POS?

[Alpina]

I have tried to configure VAT tax of 18% **** Thanks in advance!

[Crissy]

I guess you mean Tax included in the price. Which means that the tax is apllied to a value (x) < 1 x + 18% (x) = 1 If you calculate the VAT as 0.18 the final price would be higher than 1, therefore VAT is a lower number, in your case 0.15. Does it make sense? If you want the VAT to be 0.18 then you have to set the tax as "added to the price", but in this case the final price will be 1 + 18% (1) = 1.18 $

[Eric]

Hey hi there, there's two ways you can set taxes in Loyverse: 1-Included in the price of your item 2-Calculated on top of the price of your item You can set this under Loyverse backoffice under Settings>Taxes>Add tax Then select either included in the price or added to the price. NB: you can have this tax applicable on new items or new and old or not at all in which case you can decide to apply it or not when creating ticket.

[doko]

Hello!

There are two types of taxes that can be applied to items at Loyverse POS (Play Market or App Store) : ‘added to the price’ and ‘included in the price’.

Calculation of ‘added to the price’ tax

For example, if the tax rate is 6%, multiply the item’s price by 0.06. So if the item is $20, the value of the ‘added to the price’ tax will be 20×0.06= $1.20.



Calculation of ‘included in the price’ tax

For example, if the tax rate is 6%, divide the item’s price by 1.06. So if the item is $20 with the ‘included in the price’ tax, then the value of the pre-tax price is 20/1.06 = $18.87 (rounded), and the value of the ‘included in the price’ tax is 20-18.87=$1.13.



https://help.loyverse.com/help/how-taxes-are-calculated