XN000022-1973-08-22 — Page 9

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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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