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UPDATE ON THE LATEST GUIDANCE ON EXCHANGE RATES FOR INVOICING: OFFICIAL LETTER 6810/CT-QLNT OF THE DEPARTMENT OF TAXATION AND OFFICIAL LETTER 21591/CHQ-NVTHQ OF THE DEPARTMENT OF CUSTOMS

On 11 September 2026 and 14 September 2026, the Department of Customs and the Department of Taxation successively issued Official Letter 21591/CHQ-NVTHQ and Official Letter 6810/CT-QLNT, respectively clarifying the determination of the exchange rate applicable to customs declarations and the exchange rate stated on invoices.

Notably, enterprises now have clear guidance from the competent authorities on the exchange rate applicable for each purpose: Official Letter 21591/CHQ-NVTHQ provides guidance on the exchange rate for tax calculation on customs declarations, while Official Letter 6810/CT-QLNT of the Department of Taxation provides a specific answer on the exchange rate stated on invoices. This guidance is of particular relevance to enterprises with foreign currency transactions, especially import-export enterprises.

Exchange rate on customs declarations

  • According to the guidance of the Department of Customs in Official Letter 21591/CHQ-NVTHQ, the exchange rate for customs duty calculation is determined based on the transfer buying rate quoted by the Head Office of Vietcombank at the end of Thursday of the preceding week, and applies to customs declarations registered during the week (Clause 5, Article 21 of Decree 08/2015/ND-CP, as amended by Decree 167/2025/ND-CP).
  • Where the exchange rate used on the customs declaration differs from the exchange rate on the invoice or other documents, resulting in a difference in the amount converted into VND, the customs declaration is not required to be amended merely to reconcile the VND amounts, provided that the transaction value in foreign currency and related information reflect the actual transaction.

Exchange rate stated on invoices

  • According to the new guidance of the Department of Taxation in Official Letter 6810/CT-QLNT, for economic and financial transactions denominated in foreign currency, the exchange rate stated on invoices shall be the actual transaction exchange rate determined in accordance with the accounting regulations.
  • For cases where taxes and other state budget revenues are permitted to be declared in foreign currency under Clause 1, Article 14 of Decree 252/2026/ND-CP, the currency used for the declaration and payment of taxes and other revenues, as well as the exchange rate for tax declaration purposes, shall comply with Article 14 of Decree 252/2026/ND-CP.