Inland Revenue - Tax policy Tax Policy

News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
- updates on the progress of bills through Parliament
- policy announcements

Changes to use of money interest rates

12 May 2020

The use of money interest rates are reviewed regularly to ensure they are in line with market interest rates. The interest rates on underpayments and overpayments of taxes and duties have now changed to:

- underpayment rate: 7.00% (previously 8.35%)
- overpayment rate: 0.00% (previously 0.81%)

The rates were changed by Order in Council on 4 May 2020 and came into force on 8 May 2020.