Withholding and paying. According to Article 8 of the Individual Income Tax Law of People's Republic of China (PRC), all income shall be calculated in RMB. If the income is in foreign currency, it shall be converted into RMB according to the foreign exchange quotation published by People's Republic of China (PRC) and the State Administration of Foreign Exchange. The provisions of the Trial Measures for the Internal Settlement Price of Trade Foreign Exchange are only applicable to the trade foreign exchange settlement of state-owned enterprises, and non-trade foreign exchange and personal foreign exchange shall not be converted according to the internal settlement price of trade foreign exchange.