29.09.08

For calculation of the VAT tax base, advance payments made in foreign currencies for pending deliveries must be recalculated into rubles at Central Bank rates on the date received; for payments received at the time of goods are shipped – the Central Bank rates on the day of shipment should be used. The same rule is used for performed services. This information is provided in the Letter of the Ministry of Finance # 03-07-08/205 from August 26, 2008.

According to explanation offered by the Ministry, VAT amounts calculated from payments for pending deliveries of goods or services, are deductable.

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Source: РНК