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Issue 2 of BGR 11: Use of an exchange rate

Wednesday, 24 February 2016   (0 Comments)
Posted by: Author: SARS
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Author: SARS

This BGR prescribes the foreign exchange rate that must be used when issuing tax invoices, debit notes or credit notes and determining the output tax due where the consideration for the standard-rated supply is in a foreign currency.

Please click here to view ruling.



Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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