Exchange rate while converting the foreign currency into AED for VAT

While calculating VAT, what is the way to settle the difference between the exchange rate while converting the foreign currency into AED?

Simran Singh

20/05/2020 10:53:25

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SAJITH N20/05/2020 14:27:59

VAT to be paid should always be on the exchange rate specified by the Central bank. Any variance in customer receipts would be FX gain/loss in the books.

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Exchange rate while converting the foreign currency into AED for VAT

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