Page 68 - F6 Slides (CGT,TT,ET AND PT)

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))