It is designed to show you how much GIC you will pay on tax debts that are due in the future. It is not designed to calculate how much GIC is payable on a debt that is already overdue.
The calculator uses the rate of 7.10% per annum (the GIC rate as at 1 July 2020), compounded daily.
The GIC that will accrue on your debt between and is , which means you will need to pay a total of .
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