FRINGE BENEFIT TAX
For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 16%. This rate is applicable for the months of October, November and December 2024.
DEEMED INTEREST RATE
For purposes of Section 16(2)(ja) of the Income Tax Act , the prescribed rate of interest is 16%. This rate is applicable for the months of October, November and December 2024.
Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner within 5 working days
Commissioner for Domestic Taxes
PUBLIC NOTICES 17/10/2024
