How do you calculate senior citizen discount?

3 Steps in Computing Amount Billable to Senior Citizen

  1. 1.) Determine the amount of VAT Exempt Sale. A senior citizen is exempted from paying Value-Added Tax (VAT).
  2. 2.) Deduct the 20% discount. The 20% senior citizen discount will be computed from the VAT Exempt Sale.
  3. 3.) Compute the billable amount.

How is senior citizen discount calculated on food?

In case of called-in or phoned-in orders of grouped meals, the food establishment must determine the number of senior citizens composing the group and the 20% percent discount shall be computed based on the value of the food attributable to the qualified senior citizens.

How much is the discount for senior citizens in the Philippines?

a 20%
Elderly Filipinos aged 60 and above are entitled to a 20% senior citizen discount and are exempted from the value-added tax (VAT) on applicable goods and services for their exclusive use.

How do you calculate senior discount with service charge?

Since senior citizens are entitled to a 20% discount upon purchase of goods and services, you need to deduct the percentage by multiplying the VAT exempt sales by 20%. To identify the billable amount, subtract the VAT exempt sales by senior citizen discount.

Is PWD exempted from income tax?

Finally, more than a year after Revenue Regulation No. 5-2017 was signed, the Bureau of Internal Revenue issued early this week the rules implementing the tax perks due persons with disabilities, including their exemption from the 12-percent value-added tax.

What are the benefits of SR?

Featured Benefits

  • Social Security Medicare Program.
  • Social Security Medicare Savings Program.
  • Medicare Prescription Drug Plans.
  • Federal Employees Retirement System (FERS)
  • Social Security Retirement Insurance Benefits.

What is the amount of the discount?

Calculate Discount from List Price and Sale Price. The discount is list price minus the sale price then divided by the list price and multiplied by 100 to get a percentage. Where: L = List Price.

How do I calculate a discount in Excel?

Say you want to reduce a particular amount by 25%, like when you’re trying to apply a discount. Here, the formula will be: =Price*1-Discount %. (Think of the “1” as a stand-in for 100%.) To increase the amount by 25%, simply replace the minus sign in the formula above with a plus sign.

How do you calculate service charge?

If you want to know how to determine pricing for a service, add together your total costs and multiply it by your desired profit margin percentage. Then, add that amount to your costs.