10. Payment of interest

(1)     If any duty remains unpaid at the expiration of a period of thirty days from the date for payment prescribed in terms of section 9C, there shall be payable, in addition to the unpaid duty, interest at the rate of six per cent per annum on the amount of unpaid duty calculated from the date of the expiration of the said period to the date of payment: Provided that, where the assessment of duty is delayed beyond a period of twelve months from the date of death, interest at the rate of six per cent per annum shall be payable as from a date twelve months after the date of death on the difference (if any) between the duty assessed and any deposit (if any) made on account of the duty payable within the said period of twelve months.

[Subsection (1) substituted by section 2(1)(a) of Act 13 of 2017 (section 2(a) of Act 13 of 2017 substituted by section 32(1) of Act 16 of 2022 deemed effective on 18 December, 2017) and by section 1 of Act 24 of 2020 (section 1 of Act 24 of 2020 repealed by section 33(1) of Act 16 of 2022 deemed effective on 20 January, 2021)]

(2)     Whenever the Commissioner is satisfied that the delay in the payment of duty within the period of thirty days from the date for payment prescribed in terms of section 9C, or within the period of twelve months from the date of death, as the case may be, has not been occasioned either by the executor or by any person liable for the duty, the Commissioner may allow an extension of time within which the duty may be paid without interest if, before the expiration of the said period of thirty days or the said period of twelve months, as the case may be or such further period as the Commissioner may allow—

(a)     a deposit on account of the duty payable is made of an amount which, in the opinion of the Commissioner, is reasonable, regard being had to the amount of the duty payable; and

(b)     application is made in writing to the Commissioner for such extension of time.

[Subsection (2) substituted by section 2(1)(b) of Act 13 of 2017 (section 2(b) of Act 13 of 2017 substituted by section 32(1) of Act 16 of 2022 deemed effective on 18 December, 2017)]