Ireland has a 23% VAT how much will the vat be on a purchase of a 250$ item?

To calculate the VAT (Value Added Tax) on a $250 item at a 23% rate, use the following formula:

\[
\text{VAT} = \text{Price} \times \left(\frac{\text{VAT rate}}{100}\right)
\]

Substitute the values:

\[
\text{VAT} = 250 \times \left(\frac{23}{100}\right) = 250 \times 0.23 = 57.50
\]

So, the VAT on a $250 item at 23% is **$57.50**.

Would you like more details on how VAT works or have any questions?

Here are 5 related questions:
1. How is VAT different from sales tax in other countries?
2. How do you calculate the total price after VAT is added?
3. What happens if a VAT rate changes during a purchase period?
4. Can VAT be reclaimed by international buyers when leaving Ireland?
5. How does VAT affect the final price of imported goods?

**Tip:** Always check if VAT is included in the listed price or added on at checkout to avoid surprises!

Learn how to calculate VAT on a $250 item at a 23% rate. This problem uses basic percentage and arithmetic concepts to determine the tax value, suitable for students in Grades 6-8.

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