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Section 14B: Interest on late payment of unpaid duty, excise duty

Customs Act

This section is inserted by Act No 18 of 2016, section 11.

consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

14B. Interest on late payment of unpaid duty, excise duty and taxes (1) A person who fails to pay duty, excise duty and taxes due shall, in addition to the unpaid duty, excise duty and taxes, pay to the Director-General, interest for the period during which the unpaid duty, excise duty and taxes remain unpaid. (2) The interest under subsection (1) shall be charged at the rate of 0.5 per cent of the unpaid duty, excise duty and taxes 184 Acts 2016 for each or part of each month for which the duty, excise duty and taxes remain unpaid. (d) in section 16, in subsection (1), by inserting, after the words “airway bills”, the words “, seaway bills”; (e) by inserting, after section 16B, the following new section –

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