PAYMENT OF INCOME TAX.
SIX MONTHS' TEEMS GRANTED, The, payment of income which ' special reference was drawn in our interview with a local business map pub-, lished in yesterday's "Presa,'* baa oc■CASjoned some concern agwngst taxpayers on account of the figaqcial stringency. Tlio position baa been relieved by the Government intimating to ■ • 1 a numl>er of large taxpayers that it is prepared to give terms m connexion wit It the payment of tasatfop, It will aocnpt one-third of the amount in cash, . and take two promissory note?, of three and six months respectively, for the balance.' Tho amounts o? ih?ge-promis-sory notes will include bank interests at the bank discount rate, say-0J per cent., and stamn duty on the promissory n°tesi In addition, lo per cent, will he Added s to the amounts representing the unpaid inoomo tax, but this will be refunded, on the promissory notes being met on ; the due datqs.
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Bibliographic details
Press, Volume LVII, Issue 17056, 29 January 1921, Page 8
Word Count
152PAYMENT OF INCOME TAX. Press, Volume LVII, Issue 17056, 29 January 1921, Page 8
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