The highest percent buff is the only one calculated.
Eg: if I have Slag (+12% damage) equipped and cast a charged VB I have +25% damage only. If I have ribbit equipped (no passive damage percent) and cast a charged VB I still have +25%. Only the highest percent buff is considered. This also applies to percent based armor buffs like this EOF the bulwark proc, veils, and the AAs of littlebear and glacian.
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