Interest exemption under section 10(15)(iv)(c): Department of Revenue to approve foreign loan interest rates following ministry recommendations. Applications for foreign loan agreements and approval of interest rates under section 10(15)(iv)(c) are filed with the administrative Ministry, which processes loan approvals in consultation with the Department of Economic Affairs and issues loan agreement approval, but refers its recommendations on the rate of interest to the Foreign Tax Division of the Department of Revenue, which will issue the rate approval; the procedure is effective from 1 September 1991, pending applications will be transferred, and prior approvals remain valid.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest exemption under section 10(15)(iv)(c): Department of Revenue to approve foreign loan interest rates following ministry recommendations.
Applications for foreign loan agreements and approval of interest rates under section 10(15)(iv)(c) are filed with the administrative Ministry, which processes loan approvals in consultation with the Department of Economic Affairs and issues loan agreement approval, but refers its recommendations on the rate of interest to the Foreign Tax Division of the Department of Revenue, which will issue the rate approval; the procedure is effective from 1 September 1991, pending applications will be transferred, and prior approvals remain valid.
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