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After setting up the payment gateway, will it calculate the VAT tax on the checkout page automatically?
No, the VAT tax is separate from the payment gateway. In order to enable the VAT tax to be charged to your customers, you have to first activate the tax calculation by going to "Global settings" and then under the "Order/product/cart" menu, click on the "Enabled" button under the VAT Tax as illustrated below. Thereafter, you would need to fill in the percentage of the tax based on the VAT rate in your country and whenever your customer places order on your webstore, they will be charged with the VAT tax set up by you.