Commentary on Sections Structure of Chapters Overview Section 381: Discounts
1535.This section treats discounts taxed under Schedule D Case III(b) as interest. It is based on section 18 of ICTA.
1536.Although section 18 of ICTA includes discounts as a separate category of charge without treating them as interest, this section provides for them to be charged as if they were interest. See Change 83 in Annex 1.