# Commission Implementing Regulation (EU) 2020/1197 of 30 July 2020 laying down technical specifications and arrangements pursuant to Regulation (EU) 2019/2152 of the European Parliament and of the Council on European business statistics repealing 10 legal acts in the field of business statistics (Text with EEA relevance), Division 5: The statistical value of the goods shall be expressed in the national currency of the reporting Member State.

Extent: E+W+S+N.I.

Where a conversion of currency is necessary for expressing the statistical value of the goods in the national currency, the exchange rate to be used shall be:
(a) the rate applicable according to the provisions on currency conversion laid down in the Union Customs Code at the time the customs declaration is accepted; or failing this
(b) the rate applicable for determining the taxable amount for taxation purposes, when this is established; or failing this
(c) the reference rate applicable at the time the goods are imported or exported set by the European Central Bank for Member States belonging to the euro area or the official rate set by Member States not belonging to the euro area in the absence of any special provisions decided by the Member States.

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Source: https://www.legislation.gov.uk/eur/2020/1197/annex/V/chapter/II/section/10/division/5 (the official version)
Page: https://openlegislation.uk/eu-regulation-2020-1197/annex-V/chapter-II/section-10/division-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.