Net or gross

[tinyjo]

This is really bugging me at the moment, because I'm working on finance interfaces and everyone seems to have a different answer. As far as I can tell on the net, I'm right, but I thought I'd see what you lot think.

[Poll #84843]

In this case, the specific tax in question is VAT.

Update: looking through some computer mags in the kitchen while making tea shows that actually, it's so unclear that no-one uses it for VAT - they all say inc VAT or exc VAT.

Comments

Confused

[smithi1.livejournal.com]

So are we, apparently :)

I always think that net as a term goes with gross. So I always tend to view it as the lower of the two.

dictionary.com (eventually) came up with:

Remaining after all deductions have been made, as for expenses: net profit.

[swisstone.livejournal.com]

What he said - so VAT that had to be paid on goods sold would not be included in, for instance, net takings from selling said goods.