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Exchange Rate Differences Between Invoices and Customs Declarations: When Is an Adjustment Needed?
The VND amount on an export invoice often differs from that in the customs declaration. Guidance issued by the tax and customs authorities in September 2026 clarifies how to deal with these differences.
- Under Decree 254/2026/ND-CP and Official Letter 6810/CT-QLNT, invoices in foreign currency must show the actual transaction rate under the accounting rules. This is generally the average buying and selling rate of the enterprise's regular bank. A rate within 1% of this average may be used.
- For customs purposes, the exchange rate is Vietcombank's buying rate at the end of the Thursday of the preceding week.
- According to Official Letter 21591/CHQ-NVTHQ, a VND difference that arises only because different exchange rates were correctly applied does not require an amendment of the customs declaration or an adjustment of accounting revenue. Differences in price, quantity, delivery terms or documents are not covered.
- For importers, the VND value in the customs declaration does not by itself determine the cost of inventory.
Businesses should therefore first reconcile foreign currency values, quantities and delivery terms, keep the exchange rates used on file and investigate other discrepancies.
Contributed by Luther Vietnam
Electronic Identification for Foreign Nationals: Key Changes under Decree 320/2026/ND-CP
- Decree 320/2026/ND-CP took effect on 28 September 2026 and amends the rules on electronic identification under Decree 69/2024/ND-CP. It makes the national identification app VNeID more accessible and more useful for foreign nationals in Vietnam.
- The previous distinction between Level 1 and Level 2 accounts has been removed. All account holders now have access to the full range of functions, including those needed to act as a legal representative.
- Any foreign national who lawfully enters or resides in Vietnam may now apply for an account, regardless of age or residence status. Previously, a temporary or permanent residence card was required.
- Processing takes two working days if the applicant's biometric data is already on record and five working days otherwise. However, applications must now be submitted in person at the provincial immigration authority.
- Applications for administrative procedures can be submitted through VNeID, and the results are returned there. Documents such as passports, visas and residence cards can be linked to the account and updated automatically.
For foreign employees and their employers, VNeID can simplify administrative procedures. It does not, however, replace the existing immigration and work permit requirements.
Contributed by Luther Vietnam
