Page 14 - P6 Slide Taxation - Lecture Day 6 - Provisional Tax Companies Only

Additional tax, interest and penalties

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through

First provisional tax payment

 Late payment

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 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)