What is the formula for Net Domestic Product at Factor Cost?

The formula for Net Domestic Product at Factor Cost (NDPfc) is:

[ \text{NDPfc} = \text{Gross Domestic Product (GDP)} - \text{Depreciation} + \text{Net Factor Income from Abroad} ]

This can also be expressed as:

[ \text{NDPfc} = \text{GDP at Market Prices} - \text{Indirect Taxes} + \text{Subsidies} - \text{Depreciation} ]

NDPfc measures the value of goods and services produced within a country, accounting for the consumption of fixed capital and adjusting for taxes and subsidies, reflecting the income earned by factors of production.