Quote:
Originally Posted by Wald07
Tax? $10 @ 50% off= $5.00+ 5% GST= $5.25? Perhaps?  |
This is the difference between a sales tax and value added tax. VAT is always included into the sales price and not added afterwards (sales tax).
I always get the "full" discount, here 50%. I live in Europe.
Assumption: VAT: 5%
$ 10 * (100/105) * 50% * (105/100) = $ 5
$ 9.52 (w/o VAT) * 50% discount = $ 4.76 * 1.05 (add VAT) = $ 5