XN000022-1984-07-05 — Page 9

THURSDAY, JULY 5, 1984

8

TAX CERTIFICATE INTEREST RAISED

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FROM TOMORROW (JULY 6) THE NEW ANNUAL RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES WILL BE INCREASED TO 10.08 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 8.4 PER CENT (TAX FREE), THE COMMISSIONER OF INLAND REVENUE ANNOUNCED TODAY.

THE INCREASE, AUTHORISED BY THE FINANCIAL SECRETARY, WILL

BE PUBLISHED IN THE GAZETTE TOMORROW.

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE 84 CENTS PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETED MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

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 JULY 6, 1984.

CERTIFICATES WHICH WERE ISSUED BEFORE JULY 6, 1984 WILL CONTINUE TO EARN INTEREST AS FOLLOWS:

PER CENT

14.4

12

10.8

9

ON

7.8

10.2

12

9.6

7.8

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER OCTOBER 16, 1981 AND BEFORE DECEMBER 4, 1981;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 4, 1981 AND BEFORE JUNE 4, 1982;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JUNE 4, 1982 AND BEFORE AUGUST 27, 1982;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 27, 1982 AND BEFORE DECEMBER 3, 1982;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 3, 1982 AND BEFORE MAY 27, 1983;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MAY 27, 1983 AND BEFORE OCTOBER 28, 1983;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER OCTOBER 28, 1983 AND BEFORE NOVEMBER 7, 1983;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER NOVEMBER 7, 1983 AND BEFORE FEBRUARY 13, 1984;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER FEBRUARY 10, 1984 AND BEFORE MARCH 23, 1984;

/5.16 DR A..