Page 66 - F6 Slides (CGT,TT,ET AND PT)

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)