Interest Rates (Excise Tax Act) Regulations

Marginal note:General rates

2 For the purposes of the Act, the prescribed rate of interest in effect during a particular quarter is

• (a) in the case of interest to be paid to the Receiver General, the sum of the basic rate in respect of the particular quarter and 4%;

• (b) in the case of interest to be paid or applied on an amount payable by the Minister to a person (other than a corporation), the sum of the basic rate in respect of the particular quarter and 2%;

• (b.1) in the case of interest to be paid or applied on an amount payable by the Minister to a corporation, the basic rate in respect of the particular quarter; and

• (c) in any other case, the sum of the basic rate in respect of the particular quarter and 4%.