Invoice in a foreign currency: VAT in euros
How Vporiadku computes and prints the VAT in euros on an invoice in a foreign currency, which rate and which day it uses, and when the line is not on the invoice.
A VAT payer may invoice in any currency, but the invoice must also state the amount of VAT in euros (§ 74(1)(i) of the Slovak VAT Act). Vporiadku computes it and prints it under the VAT amount, with the exchange rate and the day the rate is of.
Step by step
Choose the currency
In New Invoice pick USD or CZK, for example, in the field Currency. Invoicing in a foreign currency is on the Profi plan.
Check the exchange rate
For currencies the ECB publishes a rate for, Vporiadku fills the field Exchange Rate with the rate of the day before the supply. For other currencies you enter the rate by hand, from the ECB or NBS rate list of that day.
Look at the summary
In the summary on the right, the line Total VAT in EUR sits under the VAT, with the rate and its day below it.
Open the PDF
The PDF of the invoice has the line Total VAT in EUR in its totals, and under them „Exchange rate on <day>: 1 EUR = <rate> <currency>“.
How the amount is computed
Under § 26(1) it is the tax base that is converted to euros, not the tax. So for each rate Vporiadku converts the base at the invoice rate, computes the tax from it, rounds it to the cent and adds up the rates. The control statement and the e-invoice (field BT-111) state the same amount, so the paper, the XML and the return agree to the cent.
When the line is not on the invoice
- The invoice is in euros.
- The invoice carries no VAT, under the reverse charge or for an export, for example.
- You are not a VAT payer.
- The invoice has no exchange rate. Vporiadku does not save such a foreign-currency document.
Frequently asked questions
- Which day’s rate applies?
- The day before the supply (§ 26(1)). For a tax document for a payment received, the day before the payment arrived. If the ECB published no rate that day, over a weekend for example, Vporiadku uses the last published one and says so in the form.
- Which rate does a credit note use?
- A credit note created from the invoice takes over the currency and the rate of the original invoice, as § 26(1) requires for a correction of the tax base.
Did not find your answer? Write to us at podpora@vporiadku.sk; we answer in Slovak, English and Ukrainian.
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