Contingency Fees Act, 1997
R 385.00
Tax on Retirement Funds Act, 1996 (Act No. 38 of 1996)11. Interest on late payment of tax |
Where any retirement fund or insurer fails to pay any tax for which it is liable in full before or on the last date of payment as prescribed by section 6 or 7, as the case may be, interest shall be paid by such retirement fund or insurer, as the case may be, on the balance of the tax outstanding at the prescribed rate as defined in section 1 of the Income Tax Act, reckoned, in so far as it relates to the payment of any—
| (a) | tax on retirement funds as referred to in section 6, from the end of the three months' period contemplated in that section; |
| (b) | first provisional tax payment as referred to in section 7(3), from the last day of the relevant month contemplated in that section; or |
| (c) | second provisional tax payment as referred to in section 7(5), from the end of the relevant tax period contemplated in that section, as the case may be. |
