The AFR Mid-term, Annual Rate is also slightly lower in June than it was for May.
At 2.00% in July, the midterm AFR will be the lowest since January 2011.
FORBES: A GRAT Opportunity: Taking Advantage Of Low July 2011 AFRs
Deputy Jonathan Le Tocq said the cost of defending legal action from AFR Advocates would also be kept secret.
BBC: Guernsey States compensation pay out to stay undisclosed
The Sector for External Relations and Public Information (ERI) and the Africa Department (AFR) ensure liaison with Member States.
Guernsey's Home Department has been criticised for its handling of the aftermath of an unlawful police raid on law firm AFR Advocates.
The AFR Mid-term, Annual Rate will also be slightly lower in July.
FORBES: A GRAT Opportunity: Taking Advantage Of Low July 2011 AFRs
The Home Department has not revealed the cost of an out-of-court settlement with AFR Advocates agreed after an unlawful police raid in June 2010.
In any case, the court may decide that the balance is subject (as Power REIT argues) to interest at the Applicable Federal Rate (AFR).
If you want latest results from matches, iSoccer Scores from AFR Ventures (99 cents) provides a wide range from the World Cup to most major domestic leagues.
While AFR covers the Member States from the Africa region, ERI is responsible for relations with the Member States from the four other regions and with Associate Members.
This is the Section 7520 rate (named after the section of the Internal Revenue Code that applies), which is 120% of the current mid-term AFR compounded annually, rounded to the nearest 0.2%.
If you don't charge at least the AFR, you must report as income to you -- the lender -- interest equal to what you would have collected had you charged the AFR.
See my resource page on the AFR.
FORBES: A GRAT Opportunity: Taking Advantage Of Low July 2011 AFRs
The Deputy-Director General then spoke about consolidating services, and announced that the DG has decided to create one consolidated Administrative Office (AO) for Corporate and Programme support services at Headquarters (MSS, BFM, HRM, ERI, BSP, AFR, BFC, GBS, ODG), with focal points for each sector and bureau.
UNESCO: Summary of Senior Management Team meeting of 2 July 2012
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