Other currencies in the VAT return

The VAT return is in AED. Issued invoices and accepted incoming invoices in another currency are converted to AED at each document's own exchange rate before they enter the boxes.

Which rate is used

1. The exchange rate on the document: the rate on your invoice, or on the incoming invoice (from the supplier's e-invoice, the UAE Central Bank or typed by hand).
2. Older issued invoices that still carry a rate of exactly 1, the former default, use the stored UAE Central Bank rate for their date instead.
3. A document with no usable rate is left out of the boxes.

Documents without a rate

1. Go to VAT Return and pick the tax period.
2. If documents have no rate, a red warning at the top says "These documents are in another currency and have no exchange rate, so they are not in the figures below." It lists each document with its currency; click one to open it.
3. Click Look up the UAE Central Bank rates. Alya Books fetches the rates for those dates and reloads the figures.
4. If a document is still listed, open it and set the rate on the document.

Periods you already filed

Before this conversion, amounts in another currency were counted as if they were AED: USD 1,000 counted as AED 1,000. Figures for periods with documents in other currencies can therefore change when you open them again. If you already filed such a period, compare the new figures with what you filed. Any correction goes through the FTA's process, for example a voluntary disclosure in EmaraTax; check with your tax adviser.

Good to know

• Filed periods stay locked until you click Reopen.
• The VAT Return page and the API use the same conversion.
• AED documents are not affected.

Related

• VAT 201 worksheet
• Invoice in another currency
• Currency and exchange rate on incoming invoices