GB VAT invoice in foraign currency

[szamperg]

Hi Evryone,

With regards to the local requirement in UK and IE, please see below, can anyone let me know what is the best way to manage foraign currency supliers invoice VAT in S4 Hana?

For GB: If a GB VAT registered company submits an invoice of VAT in any other currency than GBP, they legally have to state the GBP VAT equivalent on the invoice/credit. Whilst our system will convert the foreign VAT into local currency, we can only claim the amount stated on the suppliers` invoice on the VAT return and not the amount calculated within our system.

For IE: If a IE VAT registered company submits an invoice of VAT in any other currency than EUR, they legally have to state the EUR VAT equivalent on the invoice/credit. Whilst our system will convert the foreign VAT into local currency, we can only claim the amount stated on the suppliers` invoice on the VAT return and not the amount calculated within our system.

Thank you,

Gabriella Szamper