PWC VIETNAM NEWSBRIEF Guidance On FX Rate Applicable For Transactions In Foreign Currency

PwC Vietnam

Thursday, 17 Sep 2015

Circular 26/2015 of the Ministry of Finance became effective from 1 January 2015 to provide guidance on the foreign exchange rate to be used to record revenue and expenses for tax purposes and to be consistent with Circular 200/2014 on accounting regime. The exchange rate to be applied in accordance with Circular 26/2015 can be summarisedas follows:
•  For revenue: the buying exchange rate of the commercial bank where the Company transacts.
• For expenses: the selling exchange rate of the commercial bank where the Company transacts at the time the payment is made.
• Certain other cases as specified in Circular 200/2014 (e.g. advance from customers).

For more information, please see attached file.