Not A Member Yet? See All The Features Of The Forum By Clicking Here To Register For FREE! Or Members Login Below:

Cyprus Eastern Forum Index Cyprus Eastern Forum Index
Offering Free Help, Advice, Tips & Support for those buying or living in:
Paralimni - Protaras - Pernera - Kapparis - Agia Napa - Larnaca - Oroklini - Pervolia - Kiti - Xylofagou
Vrysoulles - Frenaros - Dherynia - Sotira - Agia Thekla - Liopetri - Ormidia & surrounding areas...

 
Main Homepage Cyprus Eastern Forum Index Register Directory Memberlist Search

Ads By Forum Sponsors  

    
Cyprus Eastern Forum Index » General » Exchange rate for Tax Returns
Post new topic  Reply to topic   View previous topic : View next topic 
Exchange rate for Tax Returns 
Post: #1   PostPosted: Fri Mar 15, 2019 4:38 pm Reply with quote
Anne Randle
Joined: 14 May 2006
Posts: 611
Pictures: 0
Location: Vrysoulles

 
Hi,

Anyone know the sterling to euro exchange to be used this year please? If not will phone the Tax Office on Monday and post the response given.

Anne
Personal Photo Album View user's profile Send e-mail Yahoo Messenger Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #2   PostPosted: Fri Mar 15, 2019 5:39 pm Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi Anne

I always use the European Central Bak average exchange rate over the year -
Links only visible to Registered Members
Register for Free or Login to the forum.


The average for 2018 is 0.88471. Remember to divide the sterling total by 0.88471 to convert it to €uros.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #3   PostPosted: Fri Mar 15, 2019 6:46 pm Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
Posts: 10183
Pictures: 0
Location: ROC

 
This thread's going to run and run. Laughing
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #4   PostPosted: Sat Mar 16, 2019 8:13 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
I've never had a problem using the ECB exchange rate.

Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #5   PostPosted: Sat Mar 16, 2019 10:04 am Reply with quote
sugarray1955
Joined: 25 Jan 2017
Posts: 1336
Pictures: 0

 
I always email the tax office direct and use the figure they give me, never had a problem doing this, and I also then have a hard copy of the figure quoted as evidence in case there is ever a problem.

_________________
Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Oleeee
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #6   PostPosted: Mon Mar 25, 2019 7:37 am Reply with quote
SensibleBob
Joined: 07 Sep 2005
Posts: 1678
Pictures: 0
Location: Avgorou

 
So what rate are they using this year?
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #7   PostPosted: Mon Mar 25, 2019 11:50 am Reply with quote
sugarray1955
Joined: 25 Jan 2017
Posts: 1336
Pictures: 0

 
SensibleBob wrote:
So what rate are they using this year?

Sent email to tax dept. last week but still not had a reply.

_________________
Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Oleeee
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #8   PostPosted: Mon Mar 25, 2019 12:21 pm Reply with quote
tilly mint
Joined: 13 Jan 2009
Posts: 643
Pictures: 0
Location: Liopetri/kent

 
See post 2. Thats what I used and it was excepted.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #9   PostPosted: Mon Mar 25, 2019 12:35 pm Reply with quote
trevnhil
Joined: 30 Aug 2005
Posts: 2309
Pictures: 0
Location: Polemi. Paphos area

 
I have never heard of anyone's returns NOT being accepted no matter what exchange rate they use. In fact from memory there is nowhere on the form to show what rate you have used..

Trev..
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #10   PostPosted: Mon Mar 25, 2019 1:24 pm Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
Posts: 10183
Pictures: 0
Location: ROC

 
trevnhil wrote:
I have never heard of anyone's returns NOT being accepted no matter what exchange rate they use. In fact from memory there is nowhere on the form to show what rate you have used..

Trev..


Yes. Also, if my memory serves, it’s not unprecedented for the various town tax offices to quote different rates. Shocked Laughing
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #11   PostPosted: Mon Mar 25, 2019 1:34 pm Reply with quote
SensibleBob
Joined: 07 Sep 2005
Posts: 1678
Pictures: 0
Location: Avgorou

 
We all submit returns and pay up and then wait six years or more to get it accepted. My last "confirmation" related to 2011 ! I just wanted to know the rate used across the whole of Cyprus which is obviously a national secret.

There are so many ways of justifying a rate, be it Nigels source or using the average of actual rates received when transferring funds. Currency Fayre compute a rate having no resemblance to either of those, as do many other sources. Perhaps the lady at Deryneia last year has the best answer. She looked on the internet for that days tourist rate!

Has anyone ever had a tax return queried here? Probably not so will continue to use the cheapest option.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #12   PostPosted: Mon Mar 25, 2019 1:41 pm Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
Posts: 10183
Pictures: 0
Location: ROC

 
I learned a few years back to pay Mr Pambos, Room 13, Limassol tax office a visit. He apparently knows everything. Laughing
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #13   PostPosted: Wed Mar 27, 2019 3:23 pm Reply with quote
SensibleBob
Joined: 07 Sep 2005
Posts: 1678
Pictures: 0
Location: Avgorou

 
Enquired at Deryneia today and they advise the rate to be used is 0.886.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #14   PostPosted: Mon Apr 08, 2019 5:59 am Reply with quote
sugarray1955
Joined: 25 Jan 2017
Posts: 1336
Pictures: 0

 
This is the email I received today form the tax dept, guess which one I will be using Very Happy



Links only visible to Registered Members
Register for Free or Login to the forum.


_________________
Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Oleeee
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #15   PostPosted: Mon Apr 08, 2019 11:32 am Reply with quote
SensibleBob
Joined: 07 Sep 2005
Posts: 1678
Pictures: 0
Location: Avgorou

 
That just about sums up this pathetic country. It will still be some six years before they look at our tax returns so temptation is to use a rate of 1.71 and remind the tats what Cyprus for for their pound!
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel



Join Us Today! Register for Free or Login

 
Post: #16   PostPosted: Mon Apr 08, 2019 11:57 am Reply with quote
sugarray1955
Joined: 25 Jan 2017
Posts: 1336
Pictures: 0

 
SensibleBob wrote:
That just about sums up this pathetic country. It will still be some six years before they look at our tax returns so temptation is to use a rate of 1.71 and remind the tats what Cyprus for for their pound!


You would pay a lot more tax using 1.71 than 1.117 Smile

_________________
Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Ole Oleeee
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
 
Post: #17   PostPosted: Mon Apr 08, 2019 12:19 pm Reply with quote
spanner
Joined: 07 Aug 2008
Posts: 5876
Pictures: 0

 
SensibleBob wrote:
That just about sums up this pathetic country. It will still be some six years before they look at our tax returns so temptation is to use a rate of 1.71 and remind the tats what Cyprus for for their pound!


Glad you like it so much!

_________________
"In the works"
Personal Photo Album View user's profile Cyprus News,Weather & Travel
 
Post: #18   PostPosted: Tue Apr 16, 2019 8:56 pm Reply with quote
Rovers3City0
Joined: 27 Aug 2013
Posts: 126
Pictures: 0
Location: Cyprus

 
Thanks for this, I will use this site in future as its more official than XE.com
Personal Photo Album View user's profile Cyprus News,Weather & Travel
 
Post: #19   PostPosted: Wed Apr 17, 2019 7:24 am Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
You're welcome Rovers3City0

Links only visible to Registered Members
Register for Free or Login to the forum.


Regards,

_________________
Nigel Howarth
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
Exchange rate for Tax Returns 
  Cyprus Eastern Forum Index » General
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
  


All times are GMT  
Page 1 of 1  



  
  
 Post new topic  Reply to topic   
Search Tags: #Exchange #Returns



 Facebook Page    Facebook Group    Our Channel    Cyprus eBay Search    Shopping To Cyprus    Contact Admin   SmartFeed RSS Feed



BUYING PROPERTY IN CYPRUS? PLEASE ENSURE THAT YOU SEEK INDEPENDENT LEGAL ADVICE FIRST.
Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.
* Problems Logging In? Click To Contact Us | Powered by phpBB © phpBB Group Design Style: VTrushkin | View Lo-Fi Version