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Tax Information :
Individuals
: Average Exchange Rates of Major
Foreign Currencies for Salaries Tax Purposes
Salaries tax is calculated in Hong Kong
dollars. If a taxpayer receives chargeable income or incurs deductible
expense in foreign currency, he/she has to report an equivalent
amount of the income or expense in Hong Kong dollars in his/her
tax return.
The average exchange rates of major foreign currencies are listed
below. Both buying rates and selling rates are included. Buying
rate is used to convert chargeable income received in foreign currency
into Hong Kong dollars, whereas selling rate is used to convert
deductible expense paid in foreign currency into Hong Kong dollars.
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