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IRD Use Of Money Interest (UOMI) rates effective 8 May 2020

IRD Use Of Money Interest (UOMI) rates effective 8 May 2020

The IRD have announced a change to the use of money interest rates effective 8 May 2020 as follows:

  • underpayment rate: 7.00% (previously 8.35%)
  • overpayment rate: 0.00% (previously 0.81%)