Displaying VAT if prices already include VAT (tax)

Is it possible to assign a tax rate against a product but for it to work in reverse. Let me explain...

So my prices already include tax where applicable (without tax rates being used in zen cart). Is there a way so that if I set 20% tax rate to a product that during checkout it displays what percentage of the price it is currently set. (as supposed to adding 20% on to the price).

Example, product price = £10
If tax set at 20%
Rather than zen then making total price £12, it keeps the price £10 and displays £10 of which £1.66 is tax?

If not I assume I'd have to deduct 20% from my product prices that tax applies? (which would be a pain)

Anyone a tax wizard that can advise best approach?

Cheers

philip937:

Is it possible to assign a tax rate against a product but for it to work in reverse. Let me explain...

So my prices already include tax where applicable (without tax rates being used in zen cart). Is there a way so that if I set 20% tax rate to a product that during checkout it displays what percentage of the price it is currently set. (as supposed to adding 20% on to the price).

Example, product price = £10
If tax set at 20%
Rather than zen then making total price £12, it keeps the price £10 and displays £10 of which £1.66 is tax?

If not I assume I'd have to deduct 20% from my product prices that tax applies? (which would be a pain)

Anyone a tax wizard that can advise best approach?

Cheers

Not a tax wizard, but I think you want to have ZC consider that the prices entered already include tax. That way, you have your price set at 10, the tax is 20%, so the price still shows 10 and that there is/was a tax that was 20% of some number that when added to that number resulted in 10. X*(1.2)=10

Now there is a plugin out there that can display prices with and without the VAT and as you might be aware of there is a plugin for VAT tax calculations. One thing about the current version of the with/without VAT code though, is that if you read through the forum, you would have to make some modifications to other code in order for some of the calculations to come out right, also there is a rounding error that is described in the forum. But, is what you are asking possible? Absolutely.