Setting up Excel formula

Carlo1991 - Updated on Dec 22, 2017 at 07:28 AM
 Blocked Profile - Dec 4, 2017 at 05:19 PM

I need some help with the excel formulas

I have new taxation laws that apply my organization from January.

The current taxes are 10% +10%
So if it was 100 it came upto 120

Now they have introduced one more variable. It is 10% + 10% + (another 5% on base with one 10%)

so 100 + 10 + 10 +( 110*5%) =125.5

I know how to set up the formula to calculate the tax. But how do I get the base amount if I have the amount with taxes?

For example, How do I set up a formula to find 100 if I know the total amount is 125.5?

Thank you in advance.

1 reply

Wow, your organization needs to hire an analyst! I am saying, that is a relatively easy problem for the modern organization. It is called the cost of doing business, and sometimes you need to pay for the things that the business requires. Perhaps, a different hiring method needs to be utilized when hiring the back office in such an organization.

This is not a technical problem, but a legal one. You really need to consult a pro in your area to assist, as we are discussing taxes.

What happens when you tell the tax man that you plugged in an EXCEL formula you cut and pasted from CCM.NET? Do you thing he cares?

It's kind of fun to do the impossible! -Walter Elias Disney
Thank you for the reply

We do have an analyst. And I dont deal with taxation. Knowing how it works on excel will make my job easier for a report which is totally not related with taxation. I work at the front end, for customer support. I hope someone could tell me if this is possible.. Thank you again
Blocked Profile
Dec 4, 2017 at 05:09 PM
It is possible, it is just a very sensitive, important part of business, and typically you get what you pay for. Although I am 100% confident we can supply a calculation, it is a matter of if it is correct for your region! I truly hope you understand, and Please forgive me if I came across harsh!
Carlo1991 > Blocked Profile
Dec 4, 2017 at 05:12 PM

Thank you for replying. Took me a few hours but I figured out the calculations. It was really simple :-D

Thank you for your time.
Blocked Profile
Dec 4, 2017 at 05:13 PM
Can you post here, so that others may see what your solution was, please.

Thank you for the feedback!
To find the base price, just need to divide the amount by 1.255