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Which currency to be used while filing uae VAT Return 201?




UAE VAT Return should be prepared and submitted in AED (Arab Emirates Dirham). Transaction of purchases, sales, income and expenses in foreign currencies should be converted in AED based on the prevailing exchange rates before they are considered in the VAT Return preparation and calculations. The rate should be considered as on the date of the invoice. ​In order to convert foreign currency to AED values, it is required to use the currency rates prevailing on the date of supply.  The currency rates are published each week by the UAE Central Bank specially for VAT purposes. 

Link to Central Bank of UAE

 www.centralbank.ae/en/index.php?option=com_jumi&fileid=61&Itemid=59



RTD Accountants competent team as Vat Consultants in Dubai, provides supports at all the stages of the Value Added Tax on good and services in UAE.

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