Exchange Rate Implication | VAT Explained | Tax Invoice Sales Imports | Foreign Currency Conversion

In this episode of VAT Explained, we will discuss the exchange rate implications on VAT, what foreign currency conversion rate should be used.

For tax invoices raised and for the reverse charge mechanism (RCM) calculations for imports of services, the exchange rate of that day mentioned on the central bank website must be used.

With respect to imports of goods, they are usually pre-populated and the exchange rate used by the customs can be retained, it is not required to convert back to the central bank rate using the adjustments.

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Видео Exchange Rate Implication | VAT Explained | Tax Invoice Sales Imports | Foreign Currency Conversion канала MSI Auditors