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

Paragraph 27

 

  1. Subparagraph (1) substituted by section 48 of Act 32 of 2004 and section 25 of Act 21 of 2012 effective on 20 December 2012.

 

  1. Subparagraph (2) deleted by section 271 of Act 28 of 2011 effective on 1 October 2012.

 

  1. Subparagraph (3) added by section 43 of Act 121 of 1984 and deleted by section 29 of Act 65 of 1986.

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.