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wordpresswoocommercefinancial
Michael Giovanni Pumo
Michael Giovanni Pumo

Reputation: 14774

WooCommerce - Tax Calculated Incorrectly?

I am running the latest WordPress with the latest WooCommerce, as of this writing.

I have one standard tax rule setup for 20%. This is UK VAT.

I have a product setup at £350. 20% of 350 should be 280. 

20 x 350 / 100 = 70

However, on my product page AND checkout basket etc, the amount comes to: 291.67 (ex Tax). This should be 280. This is really wrong! So I'm not sure it's related to how I am coding the output of the product page, since I haven't touched the checkout template at all.

I am not sure if I have set something up incorrectly? Why am I getting such an odd number.

Some rules I have setup:

I really cannot work this one out.

The tax setup:

enter image description here

The tax on the checkout:

enter image description here

Any help greatly appreciated!

Thanks, Mikey

Upvotes: 0

Views: 8829

Answers (1)

Alex K.
Alex K.

Reputation: 175766

I think its correct, its not:

ExVAT = £350 - ((£350 / 100) * 20) = £280

as that's calculating off the price that already includes the VAT, rather its;

 20% / 100 = 0.2
 0.2 + 1   = 1.2

 £350 / 1.2 = £291.67

Upvotes: 2

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