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[ShopeePay Merchant] How are the Merchant Discount Rate (MDR) & Goods and Services Tax (GST) calculated?
For example, if your transaction amount = $10, The Merchant Discount Rate (MDR) = 1%,
MDR amount | = | MDR x Transaction amount |
= | 1% x $10 | |
= | $0.10 |
Since your MDR amount = $0.10 and Goods and Services Tax (GST) = 9%,
GST amount | = | MDR amount x GST rate |
= | $0.10 x 9% | |
= | $0.009 |
Nett amount you will receive is calculated as below:
Nett amount | = | Transaction amount - MDR amount - GST amount |
= | $10 - $0.10 - $0.009 | |
= | $9.89 |
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