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A crude oil company inquires whether it may use the Bloomberg BFIX Frankfurt 2 PM exchange rate instead of the European Central Bank to calculate the VAT taxable base. The DGT responds that it is admissible provided that the source is representative, of widespread use, and used on a recurring basis.
Question posed: Whether, for the determination of the Value Added Tax taxable base in euros, it is possible to use exchange rate publication sources other than the European Central Bank, specifically the one established in "Bloomberg BFIX Frankfurt 2 PM".
It is admissible to use exchange rate publication sources that are representative, do not present significant differences from the ECB reference rates, and are of widespread use and easy access. Furthermore, such sources must be used in a recurring and sustained manner over time by the taxable person. The Bloomberg BFIX Frankfurt 2 PM index meets these characteristics.
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