Impots sur revenue 2009 - exchange rate?

[gyn_paul]

Do we have an authorised rate of exchange to calculate this year's (that is last year's) tax yet?

 

p

[AnOther]

Someone had to be the first to ask [;-)]

This crops up every year and usually sparks off a spirited debate and as usual there will be those who decide to choose to use the year low of 1.05 [blink]

The actual average for 2009 was 1.123

[Catalpa]

Good grief! Is it that time of year already?!

[Gardian]

[quote user="AnOther"]

Someone had to be the first to ask [;-)]

[/quote]

I forecast about 7 pages of posts by end May.[:'(]

Answer = take SD's number when he gets round to posting it (together with a copy of his source) & use that. That's what I do - never a quibble from the Impots.

They just say "Oh, if it's SD, it's good enough for us"[;-)]   

[gyn_paul]

What started this off was seeing Moira  Stuart under the stairs (not my stairs, you understand !), and realising that - for the first time since virtually forever - I don't have the 31st Jan filing (?? is that right ? it looks wrong, but even worse spelt 'ei' and with a 2 'll's it's a dentist appointment) deadline hanging over my head, as I am now definitively a French resident for tax purposes with a UK 'NT' code, which obviously got me thinking about the other tax filing deadline....

Next time I go into Gueret, I'll put my head into the tax office and ask them if they have a figure yet.

 

p

[JohnRoss]

I did post about this a few days ago asking if anyone had the deadline date for making the return by post/on-line for the 2009 tax year. So far no answers. As far as the rate to use figure I just emailed my local tax office, Parthenay, last year and they sent me quite a favourable figure by return email the next day. Needless to say I kept a copy!...................JR 

[parsnips]

Hi,

      The tax authorities usually seem to take the last rate for the year ie. 31 December 2009. The rate that day was 1.128 €/£.  I suspect that many people will make an effort to find the rate that applied on the day they received the income , as the 31 Dec rate was among the highest rates for the year!

[AnOther]

[quote user="parsnips"]I suspect that many people will make an effort to find the rate that applied on the day they received the income , as the 31 Dec rate was among the highest rates for the year![/quote]Which is what you are supposed to do is it not, use the rate applicable on the day you actually received the funds ?

[cooperlola]

Earwig O, Earwig O, Earwig O....

 

Sorry, Paul, not your fault - as said above, there has to be a first.  As ANO says, there is only one legal way to do it, although there are several "official" versions of the truth.....  If we added each year's numerous threads on this subject together, we'd have a thread nearly as long as "The Songs we are Singing"!

[Bugsy]

The definitive answer, of course,  is HERE

.

[krusty]

[quote user="cooperlola"]

 If we added each year's numerous threads on this subject together, we'd have a thread nearly as long as "The Songs we are Singing"!

[/quote]

cheeky [Www]

http://www.youtube.com/watch?v=Maz9ddxEQnM

[AnOther]

Someone finally sussed what my avatar is about I see [;-)]

[Bugsy]

.[:P][:D]

[allanb]

[quote user="AnOther"]Which is what you are supposed to do is it not, use the rate applicable on the day you actually received the funds ?[/quote]Yes, but the law doesn't say what "the rate" means, which is one of the reasons why this discussion just runs and runs.

The other reason is that the tax office can't make up its mind about the alternatives.

If anyone wants a good "official" average for 2009 I would suggest the rate published by the Banque de France, which is about 1.1225, or 1.12249 if you like (anyone who needs more decimal places than that can afford an accountant).  They actually state it the other way, as £0.8909 to the euro.

This can be verified here:

www.banque-de-france.eu/fr/stat_conjoncture/telnomot/zoneeuro/zech003.pdf

And if anyone asks where the BdF gets the rate, the answer is that it is computed and published by the European Central Bank.  I don't see how any tax office can seriously object to it, although I know that some of them sometimes suggest other possibilities. 

(edited) PS: I see that The Connexion newspaper, right on cue, has stated that "the official rate" is 1.2297.  They don't say where they got it, though. 

[Jay]

[quote user="Bugbear"]The definitive answer, of course,  is HERE

.

[/quote]

42 eek!

[David]

Where is SD with his definitive rate???

David

[Gardian]

Like a prima donna [:-))], he's waiting to make his grand entrance with the definitive 'SD number'.  There's no hurry, surely?  Anyone wanting to get a 'feel' for their liability, can use one of the figures above.

All I'd ask is that when he's ready, that he posts it as a new thread entitled along the lines of the above. Then I won't have to wade through all the speculation in this thread.[;-)]

[AnOther]

I note that Connexions are up to their usual standard, according to their February issue the rate for 2009 is 1.2297 [:-))]

Last time it was anywhere near that was in Nov 2008. The absolute peak for 2009 was only 1.19 and if you're being generous the average for the year was around 1.14

[AnOther]

[quote user="Gardian"]

Like a prima donna [:-))], he's waiting to make his grand entrance with the definitive 'SD number'.  There's no hurry, surely?  Anyone wanting to get a 'feel' for their liability, can use one of the figures above.

All I'd ask is that when he's ready, that he posts it as a new thread entitled along the lines of the above. Then I won't have to wade through all the speculation in this thread.[;-)]

[/quote]It's official 1.12297 [;-)]

[Will]

I think I would prefer a link direct to an actual official source, rather than to another English-language discussion forum. Particularly when a certain expat newspaper which has very occasionally made mistakes is cited in the same topic... [;-)]

[Tricia]

Ask your local tax office. They're the people who will check your figures, and if you've got it wrong according to them it will have to be all worked out again;

They don't all use the same figure.

[Bugsy]

I have used this for the last few years to convert my wifes UK pension. I originally presented the printout at our local impot to inquire as to acceptability and they were OK with it.

.

[Will]

Exactly. But as with so much to do with taxation in France, there is not even any consistency within a particular tax office. Things like precedents count for nothing, most of it is down to the interpretation, and the whim, of individual officials. We know this to be fact.

[AnOther]

[quote user="Will"]I think I would prefer a link direct to an actual official source...[/quote]You mean SD isn't as official as it gets [Www]

[allanb]

As if life wasn't difficult enough already, I now have to make a decision about what dollar/euro rate to use in my return.  In 2008 I had some money in a dollar savings account.  I've recently received a letter from the bank apologizing for an error in calculating the interest (caused by their computer not realizing that 2008 was a leap year) and enclosing a cheque for the difference in my favour, which is eight cents (yes, really, $0.08).

I think this is the most ridiculous banking transaction I've ever seen. 

The bank warns me that this amount is going to be reported to the IRS, so I'd better declare it in France.  But what rate should I use to convert it?  An average for 2008, when the interest was earned?  Or 2009, when they wrote the cheque?  Or 2010, when I received it?  It's a good thing I can get reliable advice on this forum.