76938858.1-332.1Virginia Decodedhttps://vacode.org2016TaxationTaxes Administered By The Department Of TaxationIncome TaxTax Credits For IndividualsCredit for taxes paid to a foreign country on retirement income1998, c. 292.http://law.lis.virginia.gov/vacode/58.1-332.1//58.1-332.1/58.1/I/3/3/58.1-332.158.1-332.2For purposes of determining this credit, the foreign currency must be translated into United States dollars using the prevailing rate of exchange which most nearly reflects the value of the foreign currency at the time the taxes were actually paid to the foreign country.sectionBB1As used in this section, a foreign country shall include all possessions of the United States. Any foreign country which does not qualify for the federal foreign tax credit under § 901(j) of the Internal Revenue Code will also be disqualified for the credit allowed under this section.sectionCC1