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Wednesday, August 22, 1973
INTEREST TAX EXEMPTION RATE UP
The government announced today that the rate which is exempted
from interest tax will be raised from 3 per cent to four per cent with
effect from September 1.
At the same time, the Exchange Banks' Association confirmed
that the rate of interest on savings accounts will also be raised from
3 per cent to four per cent with effect from the same date.
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