Yes, the principal exchanged in Macao needs to be taxed. According to Article 16 of the Individual Income Tax Law of People's Republic of China (PRC), personal income includes income from property transfer, including investment income, stocks, bonds, funds, futures, foreign exchange, precious metals and other investment income, and the principal of property transfer. Therefore, the principal exchanged in Macao also needs to be taxed. Solution: 1 First of all, the principal income tax converted from Macau should be accurately calculated according to the provisions of the Individual Income Tax Law of People's Republic of China (PRC). 2. Secondly, according to the provisions of the Individual Income Tax Law of People's Republic of China (PRC), accurately calculate the income tax rate of Macao's convertible principal. 3. Finally, according to the Individual Income Tax Law of People's Republic of China (PRC), the principal income tax amount exchanged in Macao should be accurately calculated and paid in time. In short, the principal exchanged in Macau is taxable, so the tax rate and tax amount of the principal income tax exchanged in Macau should be accurately calculated according to the provisions of the Individual Income Tax Law of People's Republic of China (PRC), and the tax should be paid in time.