As usual, foreign income must be converted to euros, giving rise to the question of at what rate.
Strictly speaking, you should use the Banque de France rate on the day the income was banked but if you receive regular amounts of foreign currency, the tax authorities tolerate the use of an average.
The Finance Ministry told Connexion a suitable method is to take an average of the last rate of the year and the last one of the preceding year.
For the year 2018, this gives a pound to euro rate of:
£1 = €1.1225
Other rates include:
- $1 Canada = €0.6527
- $1 NZ = €0.5899
- $1 Australia = €0.6336
- 1$ US = €0.8531
- 1 ZAR S. Africa = €0.0640
Benefit from a reduced price for our 2019 French Income Tax guide. Order by midnight March 18 at our website or call Nathalie on 06 40 55 71 63 to pay the reduced price of €12.50 (plus P&P). From March 19, the price will be €13.90 (plus P&P).