Income Tax Exchange Rate 2019

[bromerzz]

I emailed the Cyprus Tax Office this morning to ask what the sterling to euro exchange rate is for 2019. The reply is below:

Dear Sir,
The exchange rate for the euro to the sterling pound issued by the European Central Bank is -
. 0.8508 as at 31.12.2019
. 0.87777 average for the year 2019
You can use either to convert taxable income from sterling pound to euro to
complete your tax return.

[galexinda]

In that case am I correct that £1 = €1.14 ?

[Tuppence]

UKForex gives the exact average yearly exchange rate £ to € as 1.139727 so depends how many decimal points you want o go to!

[mike strand2]

In that case am I correct that £1 = €1.14 ?

Yes. So who would want to use the £1 = €1.17 rate on 31/12/19 ?