XN000022-1988-02-16 — Page 6

TUESDAY, FEBRUARY 16, 1988

5

INTEREST ON TAX RESERVE CERTIFICATES INCREASED

THE ANNUAL INTEREST RATE ON TAX RESERVE CERTIFICATES WILL BE INCREASED TO 2.76 PER CENT (TAX FREE) FROM FEBRUARY 20 THIS YEAR AS AGAINST THE CURRENT RATE OF 2.04 PER CENT (TAX FREE), THE COMMISSIONER OF INLAND REVENUE ANNOUNCED TODAY (TUESDAY).

THE INCREASE WAS PUBLISHED IN A NOTICE IN THE GAZETTE

YESTERDAY.

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.23 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

PAY

INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED ΤΟ 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 FEBRUARY 20.

CERTIFICATES WHICH WERE ISSUED CONTINUE TO EARN INTEREST AS FOLLOWS: –

* 4.32 PER CENT

*

4.08 PER CENT

3.36 PER CENT

BEFORE FEBRUARY 20

WILL

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER APRIL 3, 1986, AND BEFORE MAY 14.

1986;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MAY 14 1986, AND BEFORE AUGUST 19. 1986;

P

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 19, 1986, AND BEFORE JANUARY 19, 1987;:

*

2.52 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED AFTER JANUARY 19, 1987, AND BEFORE 4, 1987:

ON

OR MARCH

* 3 PER CENT

* 3.36 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON AFTER MARCH 4, 1987, AND BEFORE APRIL 1987;

PER ANNUM FOR CERTIFICATES ISSUED ON AFTER APRIL 9, 1987, AND REFORE JUNE

1987:

3.84 PER CENT

OR

Y.

A