The new rules for conversion of foreign currencies into Czech Crowns applicable for the Intrastat reporting were introduced in the Czech Republic with the effective date of 29 July 2016.

According to the new rules, the same exchange rate as applicable for VAT purposes should be used for conversion of foreign currencies into Czech Crowns as well as for the Intrastat reporting. This means that the exchange rate published by the Czech National Bank (or European Central Bank) as of the date when the obligation to report the acquisition or dispatch of goods arose; i.e. as of the date when the invoice was issued or as of the 15th day following the end of the month in which the goods were acquired or dispatched, whichever occurs first.

These new rules should be applied for the first time for the August 2016 Intrastat report.