Category: PART III – Provisional Tax

Paragraph 25 (Fourth Schedule) – Extension of time for payment of provisional tax

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25.       EXTENSION OF TIME FOR PAYMENT OF PROVISIONAL TAX

 

(1)     If after the end of any period within which provisional tax is payable in terms of this Schedule the Commissioner has under the provisions of sub–paragraph (3) of paragraph 19 increased the amount of any estimate of taxable income submitted by any provisional taxpayer during such period, any additional provisional tax payable as a result of the Commissioner having made such increase shall, notwithstanding the provisions of paragraphs 21, and 23, be payable within such period as the Commissioner may determine.

 

26.  ……….

Paragraph 27 (Fourth Schedule) – Penalty on late payment of provisional tax

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27.       PENALTY ON LATE PAYMENT OF PROVISIONAL TAX

 

(1)     If any provisional taxpayer fails to pay any amount of provisional tax for which he or she is liable within the period allowed for payment thereof in terms of paragraph 21 or 23, or paragraph 25 (1), the Commissioner must, under Chapter 15 of the Tax Administration Act, impose a penalty, which is deemed to be a percentage based penalty imposed under Chapter 15 of the Tax Administration Act, equal to ten per cent of the amount not paid.