Interest Rate Changes

  • Inland Revenue increase interest charges effective 10 May 2022:
    • Use of money interest rates for payments due to Inland Revenue rise to 7.28% (currently 7%)
    • Use of money interest rates for monies owed by IR to taxpayers remain at 0% (yes, zero percent)
  • Fringe Benefit tax interest charges increase effective 1 July 2022:
    • The FBT interest rate rises from 4.5% to 4.78%