Vat Calculator For Botswana
The standard VAT rate is 14% in Botswana
This is Botswana's #1 Online VAT Calculator
Botswana's 14% VAT calculator
Calculate your current Vat in Botswana today in the year 2023 at 14% Rate
Add or extract VAT: Calculate net amount without VAT in few keystrokes. Just type the gross value and our website will calculate for you the VAT percentage and amount with VAT inclusive.
What is VAT amount in Botswana?
The standard rate of VAT in Botswana increased from 14% but in Botswana it is now gone up to 16.5% which is the Vat rate for 2023. There is a limited range of goods and services which are subject to VAT at the zero rate or are exempt from VAT.The VAT rate in Botswana 2023 is 14% at which VAT is levied and the standard rate of 14% on the supply of goods and services by registered vendors. A vendor making taxable supplies of more than R1 million per annum must register for VAT.
According to data tracked by our website, Botswana recorded its highest quarterly VAT revenue in 2023, since the federal government reviewed the VAT rate upward to 14% in 2023.
VAT inclusive and VAT exclusive formula
The VAT tariff is added to the product price exclusive of VAT. The price exclusive of VAT is not like gratuity can be converted into the price inclusive of VAT by applying the following formula. Calculation rule: (Amount exclusive of VAT) * (100 + VAT percentage as a number) / 100 = Amount inclusive of VAT.What is the current VAT in Botswana?
The local name for VAT in Botswana is Value-added tax (VAT). There is basically 1 VAT rate in Botswana: Standard VAT rate is 14%How is VAT calculated in Botswana?
If you want to add VAT to the price, you just need to divide the price by 100 and then multiply by (100 + VAT rate).History of Value Added Tax in Botswana
VAT was introduced in Botswana by a decree of 102 in the year 1993 and implementation began in 1994. It replaced other forms of tax such as the law for sales tax of 1986. VAT in Botswana has become the fastest growing tax revenue head in Botswana.How to calculate VAT in Botswana?
- Enter price of goods excluding VAT, then multiply the cost of goods by 14% VAT Rate
- Devide the number by 100 to get the cost of goods inclusive VAT in Botswana
- The result of your calculation is your VAT price, including VAT. For example: KES (Botswana Shilling) 175 / 15 x 100 = KES (KES or Shilling) 203,00. This means the VAT amount at 14% KES (Botswana Shilling) rate is KES 28,00.
You calculate 14% VAT by calculating the net amount x 1.20, then you have the gross amount. If you want to know how much VAT is in the amount, you the gross amount / 15 = net amount *100. The result is the VAT included.
The tax amounts for all tax codes are added to the sub-total to derive the total for the transaction. You buy an item for 1,000 plus 14% goods and services tax. If the amount of 1,000 is tax-exclusive, 14% tax is added to it, increasing the total.
VAT exclusive price is the price of goods or services before VAT is added. The use of VAT exclusive prices should only be used when the prices are aimed at buyers who can recover any VAT charged, for example 'trade prices', 'loans' for businesses and other goods been purchased in the country, or importation of vehicles.