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Income Tax Act, 1962 (Act 58 of 1962)

Schedules

Fourth Schedule

Amounts to be Deducted or Withheld by Employers and Provisional Payments in respect of Normal Tax

Part III: Provisional Tax

27. Penalty on Late Payment of Provisional Tax

 

 

[Paragraph 27 of Fourth Schedule was repealed by the Revenue Laws Second Amendment Act No. 61 of 2008].

[Paragraph 27 of Fourth Schedule was amended by the Tax Administration Act, 2011 (Act No. 28 of 2011)]

 

 

(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.

[Subparagraph (1) amended by section 25 of Act No. 21 of 2012]

 

(2)        [Subparagraph (2) was deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].