If a taxpayer settles the sales in currencies other than CNY, the CNY conversion rate of the sales can be the fixing rate of CNY on the day when the sales occur or on the 1st of the month.  The taxpayer shall determine in advance which conversion rate to use, and shall not change it within 1 year after the determination.

If the income of an enterprise is calculated in a currency other than CNY, the taxable income shall be calculated by converting it into CNY at the fixing rate of CNY on the last day of the month or quarter when prepaying enterprise income tax. At the end of the year, tax payments that have been prepaid on a monthly or quarterly basis will not be recalculated. Only the portion of the taxable income which has not been taxed in the tax year will be converted into CNY at the fixing rate of the CNY on the last day of the tax year.

Upon the confirmation of the tax authority, where the enterprise under-counts or over-counts the income aforesaid, it shall calculate the taxable income which has been under-counted or over-counted into CNY at the fixing rate on the last day of the month prior to the month when the tax authority checks and confirms the tax supplementary payment or refund, then calculate the tax payment or refund.

For taxable consumer goods sold by taxpayers, where the sales are settled in currencies other than CNY, the CNY conversion rate of the sales can be the fixing rate of the CNY on the day when the sales occurred or on the 1st of the month. The taxpayer shall determine in advance which conversion rate to use and shall not change it within 1 year after the determination.

If the income obtained from the transfer of real estate is in foreign currency, it shall be converted into CNY at the market exchange rate announced by the state on the day or 1st of the month when the income is obtained, and the land value-added tax payable shall be calculated accordingly.

Taxpayers who settle sales in currencies other than CNY shall be converted into CNY for calculation. The CNY conversion rate of the sales can be the fixing rate of CNY on the day when the sales occur or on the 1st of the month.  The taxpayer shall determine in advance which conversion rate to use and shall not change it within 1 year after the determination.

Foreign-funded enterprises and foreign individuals that use currencies other than CNY as their accounting functional currency should convert their tax payments calculated in accordance with the accounting functional currency into CNY at fixing rate of on the last day of the previous month when paying property tax.

If the amount stated in the taxable certificate is in foreign currency, the taxpayer shall calculate the tax payable by converting it into CNY at the foreign exchange rate announced by the State Administration of Foreign Exchange of the People’s Republic of China on the day when the certificate is issued.

The tax payable is calculated in RMB. If the transfer of land and house ownership is settled in foreign currency, it shall be converted into CNY at fixing rate of the CNY market announced by the People’s Bank of China on the date of the tax liability.

If a taxpayer settles the payment of a taxable vehicle in foreign currency, the (vehicle acquisition) tax payable shall be converted into CNY first at fixing rate of CNY on the date of tax declaration and then be calculated and paid.

If the income is in a currency other than CNY, the taxable income shall be converted into CNY at the fixing rate of CNY on the last day of the previous month when the tax declaration or withholding declaration was filed. After the end of the year, the income in currencies other than CNY that has already been prepaid on a monthly or quarterly basis or each time of obtaining income will not be  re-converted when the final settlement is processed. For the part of the income that should have been taxable, the taxable income shall be converted into CNY at the fixing rate of the CNY on the last day of the previous tax year.

If the transferred equity is settled in a currency other than CNY, the taxable income shall be converted into CNY at the fixing rate of CNY on the day of settlement.