Malaysia: Tax for Foreign Currency Transactions
If the DocumentCurrencyCode is different from the TaxCurrencyCode, you need to specify the exchange rate.
In Malaysia, you must specify the TaxCurrencyCode
in the Malaysian Ringgit (MYR).
Use the TaxExchangeRate
element to specify the details.
If the DocumentCurrencyCode
is not MYR, then you need to specify 2 groups of elements:
- The first group models the tax information in the foreign currency. For example, USD.
- The second group models the tax information in the domestic currency. In Malaysia this is MYR.
Elements
Element | Description |
---|---|
Invoice/TaxExchangeRate/SourceCurrencyCode | To indicate the source or transaction currency. This is the same as the currency specified in the DocumentCurrencyCode . |
Invoice/TaxExchangeRate/TargetCurrencyCode | To indicate the destination currency. This is always MYR. |
Invoice/TaxExchangeRate/CalculationRate | The exchange rate. The rate is used to calculate the exchange. If the source currency is USD, then the USD amount equals this rate multiplied by the target currency, MYR in this case. |
Example
In this example, the DocumentCurrencyCode
is US Dollar and it has to be converted to MYR. The details are specified in the following example:
<ubl:Invoice>
<!-- Code omitted for clarity -->
<cac:TaxExchangeRate>
<cbc:SourceCurrencyCode>USD</cbc:SourceCurrencyCode>
<cbc:TargetCurrencyCode>MYR</cbc:TargetCurrencyCode>
<cbc:CalculationRate>4.733</cbc:CalculationRate>
</cac:TaxExchangeRate>
<!-- Code omitted for clarity -->
</ubl:Invoice>
The following example shows 2 groups, the first for USD and the second for MYR:
<ubl:Invoice>
<!-- Code omitted for clarity -->
<!-- first tax total group in document (foreign) currency (example: USD) -->
<cac:TaxTotal>
<cbc:TaxAmount currencyID="USD">285</cbc:TaxAmount>
<cac:TaxSubtotal>
<cbc:TaxableAmount currencyID="USD">1900</cbc:TaxableAmount>
<cbc:TaxAmount currencyID="USD">285</cbc:TaxAmount>
<cac:TaxCategory>
<cbc:ID>S</cbc:ID>
<cbc:Percent>15.00</cbc:Percent>
<cac:TaxScheme>
<cbc:ID>VAT</cbc:ID>
</cac:TaxScheme>
</cac:TaxCategory>
</cac:TaxSubtotal>
</cac:TaxTotal>
<!-- second tax total group in tax currency (MYR) -->
<cac:TaxTotal>
<cbc:TaxAmount currencyID="MYR">1348.91</cbc:TaxAmount>
<cac:TaxSubtotal>
<cbc:TaxableAmount currencyID="MYR">8992.70</cbc:TaxableAmount>
<cbc:TaxAmount currencyID="MYR">1348.91</cbc:TaxAmount>
<cac:TaxCategory>
<cbc:ID>S</cbc:ID>
<cbc:Percent>15.00</cbc:Percent>
<cac:TaxScheme>
<cbc:ID>VAT</cbc:ID>
</cac:TaxScheme>
</cac:TaxCategory>
</cac:TaxSubtotal>
</cac:TaxTotal>
<!-- Code omitted for clarity -->
</ubl:Invoice>
TEst
Updated 2 months ago