Second Quarter Prescribed Rate Set

The prescribed rate for taxable benefits has been announced.
By
|hrreporter.com|Last Updated: 06/28/2006

The prescribed rate for taxable benefits to employees and shareholders from interest-free and low-interest loans is 4% from April 1, 2006 to June 30, 2006. The rate is 1% higher from the first quarter.

The interest rate for unpaid source deductions, overdue taxes and insufficient instalments is 8% for the second quarter.

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