Circular 53/2016/TT-BTC dated 21 Mar 2016 of MOF amending, adding some articles of Circular 200/2014/TT-BTC
On 21 Mar 2016, MOF issued Circular 53/2016/TT-BTC amending, adding some articles of Circular 200/2014/TT-BTC. Some contents on determining exchange rate amended, added as follows:
Enterprises can chose actual transaction exchange rate which is the exchange rate approximately converting price. The average amount of commercial bank where enterprises usually transact. The approximate exchange rate must ensure difference not over +/-1% compared with average converting exchange rate. The average converting exchange rate daily determined or weekly or monthly on basis of average between selling rate and buying rate of commercial bank. The usage of approximate exchange rate does not affect financial position and income statement of the accounting period.
Year-ending period, enterprises use the exchange rate of commercial bank where enterprises usually have transactions to evaluation foreign currency. The exchange rate can be buying rate or selling rate of commercial bank.
In case, enterprises use the actual exchange rate to recognize Cr-cash on hand, Cr receivables, Dr payables, exchange rat difference in the period conducted at the transaction date or periodic, depending on business activities and management requirement.
