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Canada Issues Q4 2014 Interest Rates for Over and Underpaid Tax

|Approved Changes|Canada
Canada

Canada has issued the Q4 2014 interest rates used for underpaid tax penalties and overpaid tax refunds. The rates are revised quarterly based on the yield of the 90 day Canadian Treasury bill.

The rates in Q4 2014 for underpaid tax is 5%, and the rates for overpaid taxes are 1% for corporations and 3% for non-corporate taxpayers.

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