# The Bank Levy (Double Taxation Relief) Regulations 2012, Regulation 7: Exchange rates


Where the equivalent foreign levy is imposed in a currency other than sterling, for the purposes of regulation 5 the amount of equivalent foreign currency is to be translated into its sterling equivalent by reference to the spot rate of exchange for the last day of the chargeable period in relation to which the credit is claimed.

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Source: https://www.legislation.gov.uk/uksi/2012/458/regulation/7 (the official version)
Page: https://openlegislation.uk/bank-levy-double-taxation-relief-regulations-2012/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.