Of importance to the foreign residents, especially in China where exchange is a fluctuating matter is the matter of the proper exchange rate applicable in making the return. As far as it is possible to ascertain there has been no definite ruling by the department on this subject, but the American Chamber of Commerce (Shanghai) recommends that the following rate be used in making American income tax returns for 1922:—Mex $100 equivalent to GS 53.92 Sh. Tls. 100 equivalent to G$ 74.33 The following has been issued for foreign residents and will stand, according to advices received at the Consulate, until countermanded.
To collectors of internal revenue and others concerned.
An extension of time for filing returns of income for 1921 and subsequent years and for paying the tax is hereby granted up to and including the 15th day of sixth mouth following the close of the
Text read from the printed page and cleaned; old type leaves the occasional error.