Updates on Interest Rates in BC

Interest rates are set every quarter based on the prime interest rate of B.C’s principal banker.

The interest rate that we pay on refunds and credit balances(credit rate) is prime minus 2%. The interest rate that is charged on outstanding balances and late payments(debit rate) is prime plus 3%. For more information on a listing of credit and debit rates since 2007 visit http://www2.gov.bc.ca/gov/content/taxes/income-taxes/interest-rates