Section 199 Interest on certain securities

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Income tax shall not be chargeable in respect of the interest on securities issued by the Minister for Finance for the purpose of being used in payment of income tax, and such interest shall not be reckoned in computing income for the purposes of the Income Tax Acts.

Is interest on tax reserve certificates taxable?

Tax reserve certificates are temporary investments for persons who wish to provide in advance for income tax payments. A certificate, together with accrued interest, may be tendered by you in payment of income tax....

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