South Africa: Increase in the 'official rate of interest' effective April 2023

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• South Africa: Official rate of interest

  The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has announced an increase in the repurchase rate by 75 basis points. The increase means the repo rate would be 6.25% per year as of 23 September 2022. The “official rate of ...

• South Africa: Official rate of interest (low interest loans)

  The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has announced an increase in the repurchase rate by 75 basis points. The increase means the repo rate would be 5.50% per year as from the 22 July 2022. The “official rate of ...

• RSA: SARS official rate of interest increase effective 1 April 2022

  In terms of Section 1(1) of the Income Tax Act, the ‘official rate of interest’ means a rate of interest equal to the South African repurchase rate plus 100 basis points. Provided that where a new repurchase rate is determined, the new official rate ...

• South Africa: South Africa: Increase in the 'official interest rate' effective December 2022

  The official interest rate is used to calculate the 'low or interest free loan/debt' fringe benefit. The official interest rate is defined in section 1 of the Income Tax Act as the repurchase rate plus 100 basis points (1%). A new official interest ...

• South Africa: Increase in the 'official rate of interest' effective June 2023

  The 'official rate of interest' is used to calculate the 'interest-free or low-interest fringe benefit'. The official rate of interest is defined in section 1 of the Income Tax Act as the repurchase rate (repo rate) plus 100 basis points (1%). A new ...