Glossary entry (derived from question below)
English term or phrase:
The price ex tax basic of the items
English answer:
The basic price of the items excluding any tax payable
Added to glossary by
David Koppel
Oct 11, 2007 16:04
16 yrs ago
15 viewers *
English term
Denmark
The quality you want
Native in: Danish 
Works in: English to Danish, Danish to English, Norwegian (Bokmal) to Danish, and 1 more.
The price ex tax basic of the items
English
Bus/Financial
Law: Taxation & Customs
It's taken from this sentence: "The dealer will receive a bonus of a certain percentage of the retail price ex tax basic of the items retailed".
-Does "retail price ex tax basic" mean: retail price BEFORE or AFTER tax?
Thanks.
-Does "retail price ex tax basic" mean: retail price BEFORE or AFTER tax?
Thanks.
Responses
+7
3 mins
Noni Gilbert Riley
Spain
Spain
Native in English
&
English
Spain
The translator people turn to
Native in: English (Variant: UK)
Works in: Spanish to English, French to Spanish, English, and 1 more.
Related KudoZ points
:
4
Selected
The basic price of the items excluding any tax payable
Also expressed as "exclusive of (VAT)"
This is correct procedure - commission is not paid on the tax part of a price.
--------------------------------------------------
Note added at 4 mins (2007-10-11 16:09:53 GMT)
--------------------------------------------------
Sorry: BEFORE, in answer to your question!
This is correct procedure - commission is not paid on the tax part of a price.
--------------------------------------------------
Note added at 4 mins (2007-10-11 16:09:53 GMT)
--------------------------------------------------
Sorry: BEFORE, in answer to your question!
Note from asker:
| Thanks, Noni and Evi. - Couldn't "retail price exclusive of tax" indicate that the tax amount, in fact, has been deducted from the price? Then, "retail price ex tax basic" would mean: retail price AFTER tax? |
Peer comment(s):
| agree |
Evi Prokopi (X)
6 mins
|
|
Thank you, Evi.
|
|
| agree |
BusterK
: wouldn't make sense to include taxes in such calculation. Nobody knows howmuch they will be tomorrow and it is the final customer who actually pays them.
1 hr
|
|
Quite
|
|
| agree |
ErichEko ⟹⭐
7 hrs
|
|
Thnkas Erich
|
|
| agree |
Elena Aleksandrova
13 hrs
|
|
Thanks Elena
|
|
| agree |
Darya Kozak
14 hrs
|
|
Thanks Danissimo
|
|
| agree |
kmtext
: Commision is paid based on the price before tax. Ex is an abbreviation for excluding. It's also uneconomical for a company to pay commission on a fee which is not profit. Paying commission based on the post tax price would actually lose them money.
15 hrs
|
|
Well explained - thank you.
|
|
| agree |
Alfa Trans (X)
2 days 16 hrs
|
|
Thanks Marju.
|
4 KudoZ points awarded for this answer.
Comment: "Thanks for clarifying this issue."
Discussion
Thanks anyway.
Maybe quite another interpretation could even be possible: The dealer will receive the bonus EXEMPT FROM TAX - i.e. the dealer isn't required to pay tax from his/her bonus?
Could that also be an interpretation of "ex tax basic" in this case?