120 minus 12.5% tax (net)
106.67
120 ÷ (1 + 12.5%) = 120 ÷ 1.13 = 106.67
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Removing 12.5% tax from 120 gives a net price of 106.67. The tax portion is 13.33.
| Gross amount | 120 |
| Tax (12.5%) | 13.33 |
| Net (gross − tax) | 106.67 |
Frequently asked questions
- Remove 12.5% tax from 120? Removing 12.5% tax from 120 gives a net price of 106.67. The tax portion is 13.33.
- What is the formula? 120 ÷ (1 + 12.5%) = 120 ÷ 1.13 = 106.67