16     Interest

(1)     The Commissioner must pay interest in accordance with the provisions contained in Chapter 12 of the Tax Administration Act in respect of overpayment of an amount paid to the extent that that amount exceeds—

(a)     in the case where that amount was paid in respect of a notice of assessment, the amount so assessed; or

(b)     in any other case, the amount of royalty properly chargeable under the Royalty Act.

[Subsection (1) substituted by section 44(1)(a) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

(2)     A registered person must pay interest in accordance with the provisions contained in Chapter 12 of the Tax Administration Act—

(a)     in respect of so much of the amount that must be paid in terms of section 5(1) or (2), 5A or 6 as is not paid on the day by which that payment was required to be made under this Act; and

(b)     . . . . . .

(c)     in respect of so much of the amount that must be paid under an additional assessment issued by the Commissioner, other than an additional assessment under section 5A, as is not paid on the day by which that payment was required to be made.

[Subsection (2) substituted by section 44(1)(b) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

(3)      . . . . . .

[Subsection (3) deleted by section 44(1)(c) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]