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Tax Return Currency

  • 12-05-2011 03:36PM
    #1
    BulliteShot
    Registered Users, Registered Users 2 Posts: 152 ✭✭


    I've taken a look at the tax return form "Form 1 - Pay and File Tax Return for the year 2010" and it says to fill in all values in euro.

    I am a sole trader and I sell my services worldwide in USD.

    What would be the acceptable way to convert my payment values into euro? Should I be getting the values from xe.com everyday and noting the invoices that are paid in USD to euro for my own reference?

    This is confusing, I would appreciate any advice.


Comments

  • #2
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    BulliteShot wrote: »
    I've taken a look at the tax return form "Form 1 - Pay and File Tax Return for the year 2010" and it says to fill in all values in euro.

    I am a sole trader and I sell my services worldwide in USD.

    What would be the acceptable way to convert my payment values into euro? Should I be getting the values from xe.com everyday and noting the invoices that are paid in USD to euro for my own reference?

    This is confusing, I would appreciate any advice.
    Revenue provide a yearly average rate just so you know


  • #3
    BulliteShot
    Registered Users, Registered Users 2 Posts: 152 ✭✭BulliteShot


    :) That answers my question, thank you!

    http://www.revenue.ie/en/practitioner/ebrief/2011/no-052011.html


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