Page 41 - P6 Slide Taxation - Lecture Day 7 - Various Topics
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Additional tax, interest and penalties
Third provisional tax payment:
• Late payment
– Interest @ prescribed rate of amount not paid for period
unpaid (s 89bis(2))
• Underpayment
– Interest @ prescribed rate of amount by which normal tax
payable > actual paid to date (s 89quat(2))
• Overpayment
– Receive interest @ prescribed rate of amount by which
normal tax payable < actual paid to date (s 89quat(3))