Interest calculation on delayed wealth-tax payments shifted to a monthly rate and new transitional and procedural clarifications. Amendment shortens the prescribed payment period from thirty-five days to thirty days and replaces the prior annual interest measure with a monthly interest rule charging interest for every month or part of a month from the day after the payment period ends until payment; it also brings orders of the Wealth-tax Settlement Commission within the proviso and provides a transitional rule that interest for portions of periods after 31 March 1989 be calculated under the new monthly basis.
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Interest calculation on delayed wealth-tax payments shifted to a monthly rate and new transitional and procedural clarifications.
Amendment shortens the prescribed payment period from thirty-five days to thirty days and replaces the prior annual interest measure with a monthly interest rule charging interest for every month or part of a month from the day after the payment period ends until payment; it also brings orders of the Wealth-tax Settlement Commission within the proviso and provides a transitional rule that interest for portions of periods after 31 March 1989 be calculated under the new monthly basis.
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