Regulations in terms of currency used in VAT taxation we can find in article 13a ust.1 of Polish VAT Act. According to these regulations tax base value on an invoice can be shown in any currency. There is an obligation however to convert the VAT value into Polish zloty (PLN) using one of the two possibilities. As per general rule the VAT amount can be converted using the exchange rate of ECB (Europe Central Bank) or the National Bank of Poland exchange rate from the last working day preceding tax obligation. If an invoice is issued before the tax point, the exchange rate from the day preceding the invoice date shall be used. These are the basic rules but each time it has to be analyzed if e.g. the invoice is issued within the legal time limits i.e. an invoice can be issued 30 days before and 15 days after the tax point.
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