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Income Tax Act, 1962 (Act 58 of 1962)

Determination of Interest Rate for purposes of paragraph (a) of the definition of "official rate of interest" in paragraph 1 of the Seventh Schedule to the Income Tax Act, 1962

 

 

Notice No. 697

26 June 2009

 

SOUTH AFRICAN REVENUE SERVICE

 

By virtue of the powers vested in me by paragraph (a) of the definition of "official rate of interest" in paragraph 1 of the Seventh Schedule to the Income Tax Act, 1962 (Act No. 58 of 1962), I, Pravin Jamnadas Gordhan, Minister of Finance, hereby fix the rate of interest contemplated in paragraph (a) of that definition at 8,5 per cent with effect from 1 July 2009.

 

 

PJ GORDHAN

MINISTER OF FINANCE