The price ex tax basic of the items

English translation: The basic price of the items excluding any tax payable

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:The price ex tax basic of the items
Selected answer:The basic price of the items excluding any tax payable
Entered by: David Koppel

16:04 Oct 11, 2007
English language (monolingual) [PRO]
Bus/Financial - Law: Taxation & Customs
English term or phrase: The price ex tax basic of the items
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.
David Koppel
Denmark
Local time: 17:51
The basic price of the items excluding any tax payable
Explanation:
Also expressed as "exclusive of (VAT)"
This is correct procedure - commission is not paid on the tax part of a price.

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Note added at 4 mins (2007-10-11 16:09:53 GMT)
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Sorry: BEFORE, in answer to your question!
Selected response from:

Noni Gilbert Riley
Spain
Local time: 17:51
Grading comment
Thanks for clarifying this issue.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +7The basic price of the items excluding any tax payable
Noni Gilbert Riley


Discussion entries: 7





  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +7
the price ex tax basic of the items
The basic price of the items excluding any tax payable


Explanation:
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!

Noni Gilbert Riley
Spain
Local time: 17:51
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks for clarifying this issue.
Notes to answerer
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 comments on this answer (and responses from the answerer)
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.
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