Fringe Benefit Tax and Deemed Interest Rate

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


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Fringe Benefit Tax and Deemed Interest Rate