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News releaseRevenue Canada interest rates for the first calendar quarterOTTAWA, December 8, 1998...Revenue Canada today announced the prescribed interest rates that will apply to amounts owed to Revenue Canada, and to amounts the Department owes to individuals and corporations. These rates are calculated quarterly in accordance with applicable legislation and will be in effect from January 1, 1999, to March 31, 1999. Income tax
Other taxes The interest rate on overdue and overpaid remittances for the following taxes will be: Goods and services tax: 4.8667% Harmonized sales tax: 4.8667% Federal sales tax: 4.8667% Air transportation tax: 4.8667% Excise taxes: 4.8667% Excise duty: 7% |
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