Guidelines for Displaying Foreign Exchange Rates on Electronic Invoices

The Tax Department has recently issued Official Letter No. 6810/CT-QLNT to guide business associations on the method for determining and displaying foreign exchange rates on electronic invoices for economic transactions conducted in foreign currency or cases where taxes are declared and paid in foreign currency under the new regulations.

Accordingly, the determination of exchange rates is specifically defined in two cases:

First, for cases where taxes and other revenues in foreign currency are declared as specified in Clause 1 of Article 14 of Decree No. 252/2026/NĐ-CP, the currency used for tax declaration and payment, other revenues, and the exchange rate used for tax filing shall be determined in accordance with the provisions of Article 14 of Decree No. 252/2026/ND-CP.

Second case: For economic and financial transactions conducted in foreign currency in accordance with foreign exchange laws, the seller shall indicate on the invoice the foreign currency exchange rate against the Vietnamese dong in accordance with the provisions of Point c.1, Clause 8 of the Annex to Decree No. 254/2026/ND-CP.

Pursuant to Clauses 1 and 5 of Article 26 of the Law on Tax Administration No. 108/2025/QH15 and accounting laws, the exchange rate stated on the invoice is the actual transaction rate determined in accordance with accounting laws.

The above guidance is based on the current system of legal documents, including Decree No. 254/2026/ND-CP (dated June 30, 2026, issued by the Government, detailing the implementation of the Tax Administration Law regarding invoices and electronic documents) and Tax Administration Law No. 108/2025/QH15.

Accordingly, Point c.1 of Clause 8, Article 10 of Decree No. 254/2026/ND-CP stipulates that in cases where economic or financial transactions are conducted in foreign currency in accordance with foreign exchange laws, the unit price, total amount, total value-added tax, and the total payment amount shall be recorded in the foreign currency; the currency unit shall be the name of the foreign currency.

The seller must also indicate on the invoice the exchange rate between the foreign currency and the Vietnamese dong in accordance with the provisions of the Law on Tax Administration No. 108/2025/ND-CP and the guiding documents for its implementation.

In addition, Clauses 1 and 5 of Article 26 of the Tax Administration Law No. 108/2025/QH15 also stipulate that an electronic invoice is an invoice in the form of electronic data issued by an organization, business households, or individual business operators selling goods or providing services to record information on the sale of goods and the provision of services in accordance with tax and accounting laws.

As a general rule, organizations, business households, and self-employed individuals must issue electronic invoices when selling goods or providing services to deliver to the buyer in a standard data format and must include all required information in accordance with tax and accounting laws, ensuring that the content fully and accurately and truthfully reflects the content of the resulting economic and financial transactions, and shall be legally responsible for the accuracy of the issued invoices, except in cases where the use of electronic invoices is not required under Government regulations.

PL