September 20, 2016 10:35 ET
OTTAWA, ONTARIO--(Marketwired - Sept. 20, 2016) - Canada Revenue Agency
The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and corporations. These rates will be in effect from October 1, 2016 to December 31, 2016.
There have been no changes to the prescribed interest rates since last quarter, except for the interest rate for corporate taxpayers' pertinent loans or indebtedness.
Other taxes, duties, or charges
The interest rates on overdue and overpaid remittances will be as follows:
The overdue remittance rate is the rate of interest the taxpayer must pay on amounts due to the CRA.
The overpaid remittance rate is the rate of interest the CRA must pay on amounts due to the taxpayer.
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