This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force upon their notification in the Gazette, amend the Income Tax (Fringe Benefit Tax, Interest on Loans) Regulations 1995.
These regulations increase, from 5.90% to 6.13%, the rate of interest that applies for fringe benefit tax purposes to employment-related loans. The increase applies for the quarter beginning on 1 July 2014 and for subsequent quarters.
Date of notification in Gazette: 29 May 2014.
These regulations are administered by the Inland Revenue Department.