You don't have to pay tax on the exchange, just exchange it at the exchange rate. If you have unexpected income, you need to pay 20% as tax.

Exchange rate (also known as foreign exchange rate, foreign exchange rate or foreign exchange market) The exchange rate between two currencies can also be regarded as the value of one country's currency against another. Exchange rate is also a financial means for a country to achieve its political goals. The exchange rate will change because of interest rates, inflation, national politics and national economies. The exchange rate is determined by the foreign exchange market. The foreign exchange market is open to different types of buyers and sellers to conduct extensive and continuous currency transactions (foreign exchange transactions are conducted 24 hours a day except weekends, that is, from 8: 15 GMT on Sunday to 22:00 GMT on Friday). Spot exchange rate refers to the current exchange rate, and forward exchange rate refers to the exchange rate quoted and traded on the same day, but paid on a specific date in the future).

The fluctuation of a country's foreign exchange market will have an impact on import and export trade, economic structure and production layout. Exchange rate is the most important adjusting lever in international trade. A falling exchange rate can promote exports and curb imports.

For example, if the exchange rate of RMB against the US dollar is 0. 1502 (indirect pricing method), the price of a commodity in the United States is 15.02 US dollars. If the exchange rate of RMB against the US dollar drops to 0. 1429, that is, if the US dollar appreciates and the RMB depreciates, you can buy this commodity with less dollars. The price of this commodity in the United States is 14.29. Therefore, the price of this commodity in the American market will become lower. Commodity prices decrease, competitiveness becomes higher, and it is cheap and easy to sell. On the other hand, if the exchange rate of RMB against the US dollar rises to 0. 1667, which means that the US dollar depreciates, then the price of this commodity in the US market will be 16.67 after the appreciation of RMB, and the dollar price of this commodity will become more expensive and buy less.

wave form

Legal appreciation and legal depreciation of 1. exchange rate

2 individual exchange rate changes and general exchange rate changes

3. Real exchange rate changes and market exchange rate changes

4. Overvaluation and undervaluation of exchange rate