- VAT Law amendments on currency conversions take effect Jan. 1, 2026.
- Taxable value not in euros must be converted using the euro-foreign currency ratio at the time of taxation.
- If consideration changes after supply and the relevant accounting document can’t be identified, conversion uses the rate on the date of formalization.
- If the primary accounting document can be identified, the exchange rate from the date of the original VAT invoice applies.
- Updated examples are provided in the summary.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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