Prescribed Interest Rates

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Prescribed Interest Rates

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We want to bring to your attention changes that may affect you in the coming tax season and throughout 2024:

Prescribed Interest Rates

Interest rates

Effective January 1, 2024 , the prescribed interest rate on overdue tax increased to 10%, which makes it more important to pay instalments and taxes on time in order to avoid these non-deductible interest charges.

Effective January 1, 2024, the prescribed interest rate on shareholder loans increased to 6% per annum.

The rates are set quarterly.