How to calculate VAT?

How to calculate VAT?

Under the revised exempt, set-off and refund method, the formula for the VAT required to be remitted to the tax authority for a given period is:

Output VAT collected on domestic sales for period

Total input VAT paid for the period

Amount of input VAT that is not eligible for set-off or refund

Excess input VAT eligible for set-off or refund that was not set off or refunded for the previous period