diff --git a/app/domain/costs.py b/app/domain/costs.py
index 93c2b43..554d10b 100644
--- a/app/domain/costs.py
+++ b/app/domain/costs.py
@@ -12,3 +12,25 @@ def calculate_costs(gross, vat_rate=23, vat_deduction_percent=50):
     deductible_vat = vat * deduction
     return {"gross": money(gross), "net": money(net), "vat": money(vat),
             "deductible_vat": money(deductible_vat), "final_cost": money(gross - deductible_vat)}
+
+
+def calculate_net_price_costs(net_price, vat_rate=23, vat_deduction_percent=50):
+    """Return per-unit invoice and effective costs for a net fuel price.
+
+    A 50% VAT deduction means the company bears half of the VAT, not a 50% VAT rate.
+    """
+    net = Decimal(str(net_price))
+    rate = Decimal(str(vat_rate)) / Decimal("100")
+    deduction = Decimal(str(vat_deduction_percent)) / Decimal("100")
+    deduction = min(max(deduction, Decimal("0")), Decimal("1"))
+    vat = net * rate
+    invoice_gross = net + vat
+    deductible_vat = vat * deduction
+    effective_cost = invoice_gross - deductible_vat
+    return {
+        "net": net,
+        "vat": vat,
+        "invoice_gross": invoice_gross,
+        "deductible_vat": deductible_vat,
+        "effective_cost": effective_cost,
+    }
diff --git a/app/main.py b/app/main.py
index d669cce..ad8726a 100644
--- a/app/main.py
+++ b/app/main.py
@@ -120,29 +120,51 @@ def dashboard():
     totals = {"gross": Decimal("0"), "deductible_vat": Decimal("0"), "final_cost": Decimal("0"), "liters": Decimal("0")}
     by_vehicle = defaultdict(lambda: {"gross": 0, "payable": 0, "liters": 0}); invoices = defaultdict(lambda: {"gross": 0, "payable": 0, "count": 0}); settlements = {}
     for e in entries:
-        vat_rate = effective_vat_rate(settings.vat_rate, e.fueled_at)
-        c = calculate_costs(e.gross, vat_rate, settings.vat_deduction_percent)
-        totals["gross"] += c["gross"]; totals["deductible_vat"] += c["deductible_vat"]; totals["final_cost"] += c["final_cost"]; totals["liters"] += Decimal(e.liters)
-        station_policy = e.station_company
+        entry_settings = e.vehicle.company or settings
+        vat_rate = effective_vat_rate(entry_settings.vat_rate, e.fueled_at)
+        vat_deduction_percent = entry_settings.vat_deduction_percent
         normal_price = float(e.price_per_liter)
-        payable_price = normal_price
         rule = FuelCardStationRule.query.filter_by(fuel_card_id=e.fuel_card_id, station_company_id=e.station_company_id).first() if e.used_fuel_card and e.fuel_card_id and e.station_company_id else None
         uses_station_last_price = bool(rule and rule.use_orlen_last_price and e.wholesale_price is not None)
+
+        # Last price is a NET station price. Discounts and surcharges are also net.
         if uses_station_last_price:
-            payable_price = float(e.wholesale_price) * (1 + float(vat_rate) / 100)
+            settlement_net = Decimal(e.wholesale_price)
+        else:
+            settlement_net = Decimal(str(normal_price)) / (Decimal("1") + Decimal(str(vat_rate)) / Decimal("100"))
         if rule:
-            net = payable_price / (1 + float(vat_rate) / 100)
-            net = net * (1 - float(rule.discount_net_percent or 0) / 100) + float(rule.surcharge_net_per_liter or 0)
-            payable_price = net * (1 + float(vat_rate) / 100)
-        payable_price = max(payable_price, 0)
-        payable_gross = float(e.liters) * payable_price
-        settlements[e.id] = {"normal_price": normal_price, "payable_price": payable_price, "normal_gross": e.gross, "payable_gross": payable_gross, "uses_last_price": uses_station_last_price, "vat_rate": float(vat_rate)}
-        by_vehicle[e.vehicle.name]["gross"] += float(c["gross"]); by_vehicle[e.vehicle.name]["payable"] += payable_gross; by_vehicle[e.vehicle.name]["liters"] += float(e.liters)
+            settlement_net = settlement_net * (Decimal("1") - Decimal(rule.discount_net_percent or 0) / Decimal("100"))
+            settlement_net += Decimal(rule.surcharge_net_per_liter or 0)
+        settlement_net = max(settlement_net, Decimal("0"))
+
+        price_costs = calculate_net_price_costs(settlement_net, vat_rate, vat_deduction_percent)
+        liters = Decimal(e.liters)
+        invoice_gross = price_costs["invoice_gross"] * liters
+        deductible_vat = price_costs["deductible_vat"] * liters
+        effective_gross = price_costs["effective_cost"] * liters
+
+        totals["gross"] += invoice_gross
+        totals["deductible_vat"] += deductible_vat
+        totals["final_cost"] += effective_gross
+        totals["liters"] += liters
+        settlements[e.id] = {
+            "normal_price": normal_price,
+            "net_price": float(settlement_net),
+            "invoice_price": float(price_costs["invoice_gross"]),
+            "payable_price": float(price_costs["effective_cost"]),
+            "normal_gross": e.gross,
+            "invoice_gross": float(invoice_gross),
+            "payable_gross": float(effective_gross),
+            "uses_last_price": uses_station_last_price,
+            "vat_rate": float(vat_rate),
+            "vat_deduction_percent": float(vat_deduction_percent),
+        }
+        by_vehicle[e.vehicle.name]["gross"] += float(invoice_gross); by_vehicle[e.vehicle.name]["payable"] += float(effective_gross); by_vehicle[e.vehicle.name]["liters"] += float(liters)
         if e.used_fuel_card:
             key = invoice_period(e.fueled_at, settings.invoice_split_day) if split_enabled else "Cały miesiąc"
         else:
             key = "Poza kartą"
-        invoices[key]["gross"] += float(c["gross"]); invoices[key]["payable"] += payable_gross; invoices[key]["count"] += 1
+        invoices[key]["gross"] += float(invoice_gross); invoices[key]["payable"] += float(effective_gross); invoices[key]["count"] += 1
     return render_template("dashboard.html", vehicles=vehicles, entries=entries, totals=totals, month=month, by_vehicle=dict(by_vehicle), invoices=dict(invoices), settings=settings, split_enabled=split_enabled, settlements=settlements, vat_override=global_vat_override())
 
 @main.route("/vehicles", methods=["GET", "POST"])
diff --git a/app/templates/dashboard.html b/app/templates/dashboard.html
index 07811c5..fd0066b 100644
--- a/app/templates/dashboard.html
+++ b/app/templates/dashboard.html
@@ -2,6 +2,6 @@
 <div class="d-flex justify-content-between align-items-center mb-3"><div><h1 class="h2 mb-0">Podsumowanie kosztów</h1><small class="text-body-secondary">{{ settings.name }} · VAT do odliczenia {{ settings.vat_deduction_percent }}%</small></div><form action="{{url_for('main.dashboard')}}" class="ajax-nav-form"><input class="form-control" type="month" name="month" value="{{month}}"></form></div>
 {% if vat_override.enabled %}<div class="alert alert-warning"><strong>{{ vat_override.name }}:</strong> globalny VAT {{ vat_override.rate }}%{% if vat_override.start %} od {{ vat_override.start.strftime('%d.%m.%Y') }}{% endif %}{% if vat_override.end %} do {{ vat_override.end.strftime('%d.%m.%Y') }}{% endif %}. Rozliczenia są liczone według daty tankowania.</div>{% endif %}
 <div class="row g-3 mb-4"><div class="col-6 col-lg-3"><div class="card metric"><div class="card-body"><small>Brutto</small><strong>{{ '%.2f'|format(totals.gross) }} zł</strong></div></div></div><div class="col-6 col-lg-3"><div class="card metric"><div class="card-body"><small>VAT odliczony</small><strong>{{ '%.2f'|format(totals.deductible_vat) }} zł</strong></div></div></div><div class="col-6 col-lg-3"><div class="card metric"><div class="card-body"><small>Koszt po VAT</small><strong>{{ '%.2f'|format(totals.final_cost) }} zł</strong></div></div></div><div class="col-6 col-lg-3"><div class="card metric"><div class="card-body"><small>Litry</small><strong>{{ '%.2f'|format(totals.liters) }} l</strong></div></div></div></div>
-<div class="row g-4"><div class="col-lg-7"><div class="card"><div class="card-body"><h2 class="h5">Koszt według pojazdu</h2><p class="small text-body-secondary">Cena na dystrybutorze a kwota do zapłaty według cennika karty.</p><div class="chart-box"><canvas id="cost-chart"></canvas><div id="cost-chart-empty" class="chart-empty d-none">Brak danych dla wybranego miesiąca.</div></div></div></div></div><div class="col-lg-5"><div class="card h-100"><div class="card-body"><h2 class="h5">Okresy faktur</h2><small class="text-body-secondary">{% if split_enabled %}Podział według dnia {{settings.invoice_split_day}}{% else %}Podział dzienny wyłączony{% endif %}</small><table class="table mt-2"><thead><tr><th>Okres</th><th>Pozycje</th><th>Detal</th><th>Do zapłaty</th></tr></thead><tbody>{% for key,row in invoices.items() %}<tr><td>{{key}}</td><td>{{row.count}}</td><td>{{'%.2f'|format(row.gross)}} zł</td><td>{{'%.2f'|format(row.payable)}} zł</td></tr>{% else %}<tr><td colspan="4">Brak danych</td></tr>{% endfor %}</tbody></table></div></div></div></div>
-<div class="card mt-4"><div class="card-body"><h2 class="h5">Tankowania</h2><div class="table-responsive"><table class="table table-hover align-middle"><thead><tr><th>Data</th><th>Auto</th><th>Stacja</th><th>Paliwo</th><th>Litry</th><th>Cena detal.</th><th>Orlen last</th><th>Do zapłaty</th><th>VAT</th><th>Razem</th></tr></thead><tbody>{% for e in entries %}{% set s=settlements[e.id] %}<tr><td>{{e.fueled_at.strftime('%d.%m.%Y')}}</td><td>{{e.vehicle.name}}</td><td>{{e.station or '—'}}</td><td>{{e.fuel_type}}</td><td>{{e.liters}}</td><td>{{'%.4f'|format(s.normal_price)}} zł/l</td><td>{% if e.wholesale_price %}{{'%.4f'|format(e.wholesale_price|float)}} zł/l{% else %}—{% endif %}</td><td>{% if s.uses_last_price %}<span class="badge text-bg-info">last price</span> {% endif %}{{'%.4f'|format(s.payable_price)}} zł/l</td><td>{{'%.2f'|format(s.vat_rate)}}%</td><td><span class="text-body-secondary text-decoration-line-through">{{'%.2f'|format(s.normal_gross)}} zł</span><br><strong>{{'%.2f'|format(s.payable_gross)}} zł</strong></td></tr>{% else %}<tr><td colspan="10">Brak tankowań w tym miesiącu.</td></tr>{% endfor %}</tbody></table></div></div></div>
+<div class="row g-4"><div class="col-lg-7"><div class="card"><div class="card-body"><h2 class="h5">Koszt według pojazdu</h2><p class="small text-body-secondary">Cena fakturowa a rzeczywisty koszt po odliczeniu VAT.</p><div class="chart-box"><canvas id="cost-chart"></canvas><div id="cost-chart-empty" class="chart-empty d-none">Brak danych dla wybranego miesiąca.</div></div></div></div></div><div class="col-lg-5"><div class="card h-100"><div class="card-body"><h2 class="h5">Okresy faktur</h2><small class="text-body-secondary">{% if split_enabled %}Podział według dnia {{settings.invoice_split_day}}{% else %}Podział dzienny wyłączony{% endif %}</small><table class="table mt-2"><thead><tr><th>Okres</th><th>Pozycje</th><th>Detal</th><th>Koszt po VAT</th></tr></thead><tbody>{% for key,row in invoices.items() %}<tr><td>{{key}}</td><td>{{row.count}}</td><td>{{'%.2f'|format(row.gross)}} zł</td><td>{{'%.2f'|format(row.payable)}} zł</td></tr>{% else %}<tr><td colspan="4">Brak danych</td></tr>{% endfor %}</tbody></table></div></div></div></div>
+<div class="card mt-4"><div class="card-body"><h2 class="h5">Tankowania</h2><div class="table-responsive"><table class="table table-hover align-middle"><thead><tr><th>Data</th><th>Auto</th><th>Stacja</th><th>Paliwo</th><th>Litry</th><th>Cena detal.</th><th>Last price netto</th><th>Koszt po VAT</th><th>VAT</th><th>Razem</th></tr></thead><tbody>{% for e in entries %}{% set s=settlements[e.id] %}<tr><td>{{e.fueled_at.strftime('%d.%m.%Y')}}</td><td>{{e.vehicle.name}}</td><td>{{e.station or '—'}}</td><td>{{e.fuel_type}}</td><td>{{e.liters}}</td><td>{{'%.4f'|format(s.normal_price)}} zł/l</td><td>{% if s.uses_last_price %}{{'%.4f'|format(s.net_price)}} zł/l{% elif e.wholesale_price %}{{'%.4f'|format(e.wholesale_price|float)}} zł/l{% else %}—{% endif %}</td><td>{% if s.uses_last_price %}<span class="badge text-bg-info">last price</span> {% endif %}<strong>{{'%.4f'|format(s.payable_price)}} zł/l</strong><br><small class="text-body-secondary">faktura {{'%.4f'|format(s.invoice_price)}} zł/l</small></td><td>{{'%.2f'|format(s.vat_rate)}}%<br><small class="text-body-secondary">odliczenie {{'%.0f'|format(s.vat_deduction_percent)}}%</small></td><td><span class="text-body-secondary text-decoration-line-through">{{'%.2f'|format(s.normal_gross)}} zł</span><br><strong>{{'%.2f'|format(s.payable_gross)}} zł</strong><br><small class="text-body-secondary">faktura {{'%.2f'|format(s.invoice_gross)}} zł</small></td></tr>{% else %}<tr><td colspan="10">Brak tankowań w tym miesiącu.</td></tr>{% endfor %}</tbody></table></div></div></div>
 {% endblock %}{% block scripts %}<script>FuelTrack.renderBarChart('cost-chart', {{by_vehicle|tojson}});</script>{% endblock %}
diff --git a/tests/test_app.py b/tests/test_app.py
index db1d8f3..71aef01 100644
--- a/tests/test_app.py
+++ b/tests/test_app.py
@@ -349,3 +349,16 @@ def test_orlen_comparison_filters_to_one_fuel(tmp_path):
     assert '4.5000' in html
     assert '4.1000' in html
     assert '>DIESEL</td>' not in html
+
+
+def test_last_price_uses_only_non_deductible_vat():
+    from app.domain.costs import calculate_net_price_costs
+    result = calculate_net_price_costs(5.484, 23, 50)
+    assert round(float(result["invoice_gross"]), 4) == 6.7453
+    assert round(float(result["effective_cost"]), 4) == 6.1147
+
+
+def test_last_price_zero_and_full_vat_deduction():
+    from app.domain.costs import calculate_net_price_costs
+    assert round(float(calculate_net_price_costs(10, 23, 0)["effective_cost"]), 2) == 12.30
+    assert round(float(calculate_net_price_costs(10, 23, 100)["effective_cost"]), 2) == 10.00