Interest on unpaid tax under CITA is computed at:
AMPR only
BPrevailing CBN minimum rediscount rate plus a spread (commonly MRR + 5%)CORRECT
CAlways 1%
D30% per annum
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Why the answer is B, and why the others tempt you.
Interest under CITA is generally based on the CBN minimum rediscount rate plus a statutory spread.
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