The World of VAT

The World of VAT

Learning Objective

At the end of the lesson, you will be able to calculate VAT and explain what VAT is.

Introduce the lesson objectives and expectations.

What do you already know about VAT?

What is VAT?

VAT is a tax on goods and services.

Explain VAT and its basic concept.

Who Pays VAT?

Consumers pay VAT when they purchase goods and services.

Describe who pays VAT and how it is collected.

VAT Rates

VAT rates vary depending on the goods and services being sold.

Explain the different VAT rates and how they are determined.

VAT Calculation

To calculate VAT, you multiply the cost of the goods or services by the VAT rate.

Demonstrate how to calculate VAT using examples.

Example Calculation

If the cost of a product is €50 and the VAT rate is 21%, the VAT amount would be €10.50.

Provide an example calculation for the students to follow along.

Practice Exercise - 1

Calculate the VAT amount for a product costing €75 with a VAT rate of 19%.

Provide an exercise for the students to practice calculating VAT.

Practice Exercise - 2

Calculate the VAT amount for a product costing €120 with a VAT rate of 21%.

Provide another exercise for the students to practice calculating VAT.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.