In which countries can invoices be issued in a foreign currency for local transactions?
Payments
Asked by Question Bot03/Nov/20111 answer
1 Answer
F
Faisal Khan
Answered 03/Nov/2011
You can write an invoice in almost every currency in your local country, provided there is an exchange rate you can refer to.
The main question is, if the invoice can be processed in that specific currency, in the country in question.
For example, in say UAE, or India, you can write an invoice for CHF (Swiss Francs) 1,000. But you really cannot transact using CHF 1000 in Dubai or Delhi.
What you will have most likely is that the business in question that has to pay this invoice, will pay in the local currency, using the published open-market T/T exchange rate for Swiss Francs.
If you are talking about legality, I am not aware of any specific law that bars you from invoicing in any other currency. Wouldn't make sense for such a clamp down, because at the end of the day, what matters is what available currency or currencies can the invoice be processed in your country of interest.
The main question is, if the invoice can be processed in that specific currency, in the country in question.
For example, in say UAE, or India, you can write an invoice for CHF (Swiss Francs) 1,000. But you really cannot transact using CHF 1000 in Dubai or Delhi.
What you will have most likely is that the business in question that has to pay this invoice, will pay in the local currency, using the published open-market T/T exchange rate for Swiss Francs.
If you are talking about legality, I am not aware of any specific law that bars you from invoicing in any other currency. Wouldn't make sense for such a clamp down, because at the end of the day, what matters is what available currency or currencies can the invoice be processed in your country of interest.