This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on the day after their notification in the Gazette, amend the Income Tax (Fringe Benefit Tax, Interest on Loans) Regulations 1995. They increase the rate of interest that applies for fringe benefit tax purposes to employment-related loans from 10.37% to 10.57% for the quarter commencing on 1 April 2008 and for subsequent quarters.
Date of notification in Gazette: 28 February 2008.
These regulations are administered by the Inland Revenue Department.