OFFICIAL INTEREST RATES

Interest rates charged on outstanding taxes duties and levies and interest rates payable in respect of refunds of tax on successful appeals and certain delayed refunds

DATE FROM DATE TO RATE
30.06.1982 7.50
01.07.1982 31.08.1984 10
01.09.1984 31.05.1989 15
01.06.1989 31.03.1994 18
01.04.1994 30.11.1998 15
01.12.1998 30.04.1999 19
01.05.1999 31.08.1999 16
01.09.1999 29.02.2000 14.50
01.03.2000 30.09.2002 13
01.10.2002 31.03.2003 15.50
01.04.2003 30.06.2003 16.5
01.07.2003 31.08.2003 15
01.09.2003 30.09.2003 14
01.10.2003 30.11.2003 13
01.12.2003 31.10.2004 11.50
01.11.2004 31.10.2006 10.50
01.11.2006 28.02.2007 11.00
01.03.2007 31.10.2007 12.00
01.11.2007 To Date 13.00

Interest rates payable on credit amounts (overpayment of provisional tax) under section 89quat( 4) of the Income Tax Act 1962

DATE FROM DATE TO RATE
01.09.1987 15
01.10.1987 31.05.1989 12
01.06.1989 30.06.1993 14
01.07.1993 30.11.1998 12
01.12.1998 30.04.1999 14
01.05.1999 31.08.1999 12
01.09.1999 28.02.2000 10.50
01.03.2000 30.09.2002 9
01.10.2002 31.03.2003 11.50
01.04.2003 30.06.2003 12.5
01.07.2003 31.08.2003 11
01.09.2003 30.09.2003 10
01.10.2003 30.11.2003 9
01.12.2003 31.10.2004 7.50
01.11.2004 31.10.2006 6.50
01.11.2006 28.02.2007 7.00
01.03.2007 31.10.2007 8.00
01.11.2007 To Date 9.00

Where a loan is obtained by an employee from his or her employer in terms of which no interest is payable or where the interest payable is less than the official rate of interest the difference between the amount which would have been payable if the loan was granted at the official rate and the amount actually paid by the employee is taxed as a fringe benefit.

DATE FROM DATE TO RATE
01.05.1999 31.08.1999 16
01.09.1999 29.02.2000 14.50
01.03.2000 30.09.2001 13
01.10.2001 28.02.2002 10.50
01.03.2002 31.08.2002 11.50
01.09.2002 28.02.2003 13.50
01.03.2003 30.06.2003 14.50
01.07.2003 31.08.2003 13
01.09.2003 30.11.2003 12
01.12.2003 29.02.2004 9.50
01.03.2004 31.08.2004 9
01.09.2004 31.08.2005 8.5
01.09.2005 31.08.2006 8.00
01.09.2006 28.02.2007 9.00
01.03.2007 31.08.2007 10.00
01.09.2007 To Date 11.00