19
PRIDAY, JANUARY 16, 1987
PRIZES WILL ALSO BE PRESENTED TO 12 BUILDINGS WHICH HAVE WON A BUILDING CLEAN-UP COMPETITION HELD EARLIER.
NOTE TO EDITORS:
YOU ARE INVITED TO COVER THE OPENING OF THE YEAR-END CLEAN-UP TOMORROW AT 10 AM AT THE SITTING-OUT AREA AT THE JUNCTION OF PRINCE EDWARD ROAD AND NULLAH STREET.
-
INTEREST ON TAX RESERVE CERTIFICATES REVISED
*****
THE NEW ANNUAL RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES WILL NOW BE 2.52 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 3.36 PER CENT (TAX FREE).
NOTICE OF THIS WAS PUBLISHED IN THE GAZETTE TODAY (FRIDAY).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.21 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX, A SPOKESMAN FOR THE INLAND REVENUE DEPARTMENT SAID.
INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO PAY TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID BY A CHEQUE.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER JANUARY 19, 1987.
CERTIFICATES WHICH WERE ISSUED BEFORE JANUARY 19, 1987 WILL CONTINUE TO EARN INTEREST AS FOLLOWS:
7.08%
6.60%
5.52%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 28, 1984 AND BEFORE JANUARY 16, 1985
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 16, 1985 AND BEFORE JANUARY 30, 1985
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 30, 1985 AND BEFORE APRIL 3, 1985
1
/5.04% PER
r
!