Second Quarter Prescribed Rate Set
The prescribed rate for taxable benefits has been announced.
04/27/2006|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.