Re: [libreoffice-users] Re: Visible currency rounding

Hi :)
Ahhh, that makes sense.  HMRC are the Vat collectors for the Uk but the Swedish one is likely to 
have similar rules.  
Regards from
Tom :)  





> ________________________________
> From: Tinkerer <j_taylor18@btinternet.com>
> To: users@global.libreoffice.org 
> Sent: Monday, 15 July 2013, 19:38
> Subject: [libreoffice-users] Re: Visible currency rounding
>
>
> Tom
>
> Let me put it another way.
> Take the following sales:
> 50 items @ 1.37 VAT @20% = 68.50 VAT = 13.70
>
> If the same items are sold separately, the VAT would be different.
> 1 item @ 1.37 VAT @ 20% = 0.274 for the VAT
> This would be rounded to 27p and 50 x 0.27 = 13.50
> Rounding has caused a difference of 20p
> When paying tax, you are required to pay what you have collected.
> If you calculate as you suggest you may hand over more tax than you have
> collected.
> What I think he is looking for is a simple way of calculating the VAT due on
> his total with each individual item rounded down and that cannot be done.
> Each item has to be calculated, rounded down and then a total obtained for
> the rounded figures.
> HMRC take the view that VAT is payable on the total value of cash sales plus
> the VAT calculated on Invoiced sales.
> In my examples the VAT due would be 27.20 assuming that the 100 items sold
> would consist of 50 invoiced and 50 cash
> sales.
>
> Tink.
>
>
>
>
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