Taxation and Legislation

IRD Interest Rate Increase for Late or Under Paid Tax

Insight Accounting | At Insight Accounting we take the stress out of tax and accounts.

From 29 August 2023 the interest rates IRD charges for unpaid or underpaid tax increased to 10.91%.

Interest charges are regularly reviewed and reflect current market rates.

Interest charges for tax can be avoided by staying up to date with your filing and payment obligations.  For income tax, in many cases interest costs can be reduced by leveraging tax pooling.

If you want to stay on top of your tax obligations and avoid interest costs, then contact us today.