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#1
October 28th 04, 07:55 AM
Using ROUND formula to calculate tax

Using the round formula, how can I calculate, 20%VAT on a particular
item?

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#2
October 28th 04, 08:25 AM
 Jack Schitt Posts: n/a

...

Using the round formula, how can I calculate, 20%VAT on a particular
item?

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http://www.excelforum.com/member.php...o&userid=15810

Assuming you want it to 2 decimal places, and fractions of third+ decimal to
be rounded down,
=ROUNDDOWN(A1/5,2)
Where A1 contains the VAT-exclusive amount, or
=ROUNDDOWN(A1/6,2)
Where A1 contains the VAT-inclusive amount.
You could just use =ROUND() instead of =ROUNDDOWN() as above, which would
result in rounding to the nearest 2nd decimal place. Most regimes require
rounding down.

#3
October 28th 04, 08:32 AM
 Govind Posts: n/a

Hi,

Why do you want to use round formula only for this?

Cant you use the formula of =20%*item value

Regards

Govind.

Using the round formula, how can I calculate, 20%VAT on a particular
item?

#4
October 28th 04, 08:35 AM
 Frank Kabel Posts: n/a

Hi
do you mean
=ROUND(A1*0.2,2)

Using the round formula, how can I calculate, 20%VAT on a particular
item?

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