In the day-to-day operations of companies engaged in international trade (or with Italian subsidiaries of multinational groups), it is standard practice to state amounts in foreign currency (e.g. USD) on invoices, whilst also specifying the equivalent value of the taxable amount and VAT in euros, as required by law.
As the XML schema for the electronic invoice allows the value to be entered in the field 2.1.1.2
In this regard, Article 21(2)(l) of Presidential Decree No. 633/1972 expressly provides that
the tax rate, the taxable amount and the tax must be expressed, rounded to the nearest euro cent
Consequently, for persons resident or established in Italy, the field 2.2.2.5 2.2.2.6
To resolve the apparent discrepancy between European legislation, national regulations and the technical specifications of the Interchange System (SdI), legal practice and doctrine have identified three possible solutions (the XML tags in the pictures are kept in Italian to accurately match the standard e-invoice scheme).
Completing field 2.2.1.4
<Description>(2.2.1.4): Enter the foreign currency, the exchange rate applied and the corresponding amounts in that currency in the free-text field (up to 1,000 characters).
Using the optional block 2.2.1.3
<TypeCode>(2.2.1.3.1): specify the currency code in accordance with the ISO 4217 alpha-3:2001 standard (e.g. USD);<ValueCode>(2.2.1.3.2): indicate the amount expressed in the foreign currency.
Use of the optional section 2.2.1.16
<DataType>(2.2.1.16.1): insert the word ‘CURRENCY’ or ‘CURRENCY UNIT’;<TextReference>(2.2.1.16.2): state the ISO currency code (e.g. USD);<ReferenceNumber>(2.2.1.16.3): state the relevant amount in the relevant currency.
