(Tax News Reporter - Week Ended 3 December 1996)
Effective 2 December 1996, the refinancing rate of the Central Bank has dropped from 60% to 48%. The CB refinancing rate is used, inter alia, as a calculation basis for late payment interest of the Pension Fund (which is now 1/300 of 48% makes 0.16% per day) and the interest to be paid on under-declared prepayments of profits tax.
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: [email protected] or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Effective 2 December 1996, the refinancing rate of the Central Bank has dropped from 60% to 48%. The CB refinancing rate is used, inter alia, as a calculation basis for late payment interest of the Pension Fund (which is now 1/300 of 48% makes 0.16% per day) and the interest to be paid on under-declared prepayments of profits tax.
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: [email protected] or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
