Sales Tax, VAT, MOMs

What is VAT/MOMs/Sales Tax?

It is the tax a government imposes on the sale of goods and services. Commonly, as a business, you will pay this tax on your sales, but you will be able to deduct this tax from your purchases. Thereby paying the difference in tax. VAT stands for Value Added Tax. In other words you are adding value to a product or serivce between purchase and sale. And you are paying a tax on that added value.

The following list is what this sales tax is called in different countries, and the current rate of that tax:

United Kingdom (UK) VAT 20%
Denmark MOMs 25%
Sweden MOMs 25%
Norway MVA 25%
Germany MWST 19%
France TVA 20%
Spain IVA 21%
Italy IVA 22%
Netherlands BTW 21%
Belgium TVA/BTW 21%
Poland VAT 23%
Czech Republic DPH 21%
Austria USt 20%
Switzerland MWST 8.1%
Ireland VAT 23%
Portugal IVA 23%
Greece ΦΠΑ 24%
Finland ALV 24%

United States (USA) Sales Tax ~0–10% (varies by state)
Canada GST / HST 5%–15%
Mexico IVA 16%
Brazil ICMS ~17–25%
Argentina IVA 21%
Chile IVA 19%
Colombia IVA 19%
Peru IGV 18%

China VAT 13%
Japan Consumption Tax 10%
South Korea VAT 10%
India GST 18%
Indonesia PPN 11%
Thailand VAT 7%
Vietnam VAT 10%
Philippines VAT 12%
Singapore GST 9%
Malaysia SST 6%
Australia GST 10%
New Zealand GST 15%

United Arab Emirates VAT 5%
Saudi Arabia VAT 15%
Israel VAT 17%
Turkey KDV 20%
South Africa VAT 15%
Egypt VAT 14%
Nigeria VAT 7.5%
Kenya VAT 16%
Morocco VAT 20%

TVA, IVA, MWST, KDV, MVA, MOMs, and ALV all mean "Value Added Tax", just in different languages. GST stands for "Goods and Services Tax", which has a functionally similar to VAT.

Here are a few more translation of the acronyms into the local language:

MOMs: Meromsætningsafgift / Mervärdesskatt
MWST: Mehrwertsteuer
TVA: Taxe sur la Valeur Ajoutée
IVA: Impuesto sobre el Valor Añadido / Imposta sul Valore Aggiunto
BTW: Belasting over de Toegevoegde Waarde
MVA: Merverdiavgift
ALV: Arvonlisävero
IVA: Impuesto al Valor Agregado
IGV: Impuesto General a las Ventas
GST: Goods and Services Tax
PPN: Pajak Pertambahan Nilai
KDV: Katma Değer Vergisi

To convert a price which includes VAT to a price that excludes VAT then divide by (1 + VAT rate)

Exampes:
Price including VAT = 100, VAT = 25% .... 100/1.25 = 80
Price including VAT = 200, VAT = 20% .... 200/1.20 = 166.67
Price including VAT = 50, VAT = 12% .... 50/1.12 = 44.64
Price including VAT = 30, VAT = 17.5% .... 30/1.175 = 25.53
Price including VAT = 100, VAT = 10% .... 100/1.10 = 90.91