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  • What is it for: Calculates the VAT amount on a product or service.

  • How it works: A percentage of VAT is applied to the net price to obtain the gross price.

  • Calculation: Multiply the net price by the VAT rate and add to the net price.

  • Usage: Useful for determining the total amount to be paid including VAT on purchases and sales.

  • Formula: VAT = Net Price * VAT Rate

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