Tag: Reserve

Interest on Tax Reserve Certificates ************************************      The Government Gazette published today (December 30) contains a Legal Notice to the effect that the Secretary for Financial Services and the Treasury has authorised a change in the rate of interest payable on Tax Reserve Certificates. From January 3, 2023, the new annual rate of interest will be 0.5833 per cent against the current rate of 0.4000 per cent, i.e. the new rate will be $0.0486 per month per $100.      Tax Reserve Certificates bear simple interest, and interest is calculated monthly (including part of a month) from the date of ... Read more

Interest on Tax Reserve Certificates ************************************      The Government Gazette published today (September 30) contains a Legal Notice to the effect that the Secretary for Financial Services and the Treasury has authorised a change in the rate of interest payable on Tax Reserve Certificates. From October 3, 2022, the new annual rate of interest will be 0.175 per cent against the current rate of 0.1333 per cent, i.e. the new rate will be $0.0146 per month per $100.      Tax Reserve Certificates bear simple interest, and interest is calculated monthly (including part of a month) from the ... Read more