Page 39 - P6 Slide Taxation - Lecture Day 7 - Various Topics
P. 39
Additional tax, interest and penalties
Read
through
First provisional tax payment
• Late payment
th
– 10% penalty of amount not paid (4 Schedule, par 27)
– Interest @ prescribed rate of amount not paid for
period unpaid (s 89bis(2))
• Underpayment
– Interest @ prescribed rate of amount not paid for
period unpaid (s 188(2)(a) and s 189(1) of the Tax
Administration Act)
