CyprusLiving

Does anyone know what the 2010 official exchange rate is for tax purposes? - £ to €

Google is, as always, your friend

http://www.google.co.uk/search?q=2010+o ... x+purposes

I don't think I'm being dim, but I don't see it on there. Up to 2008 yes, but not for current year.

Maybe try 'European Union' instead of Cyprus?

Thanks JB, but it still doesn't tell me what the average exchange rate that will be applied by the CY tax folk to my UK pension. My final instalment is due at the end of this month and I will need to make an adjustment as the exchange rate has improved since I submitted my Temporary Tax Return at the beginning of 2010.

I recently rang the tax office to ask what rate they were using & drew a total blank - I was advised to check with the bank!

Therefore I did a quick calculation of the average rate over 2010 and got an average of €1.16 to the £

If the tax office want to argue - let them!

All the best

Thanks Mark.

I also did my own calc' by looking at the the exchange rate that was used by the UK Pensions Service when my UK pension was paid into my CY bank account each month. It was 1.1659

When I had submitted my Temporary Tax Return at the beginning of 2010, I based my assessment on the Nov/Dec 2009 exchange rate of 1.11 and was surprised that I was fined by the CY Tax authorities for underpaying them in the first two payment periods. OK, it was only a few cents, but it did seem a bit unfair, as how am I supposed to forecast what the exchange rate is going to be in any coming year?

Displayed on a notice in room 201 is the rate for 2010 it is 1.17