Section 14B: Interest on late payment of unpaid duty, excise duty and taxes
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 DirectorGeneral, interest for the period during which the unpaid duty, excise duty
and taxes remain unpaid.
C62 – 15 [Issue 9]
Customs Act
(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 for each or part of each
month for which the duty, excise duty and taxes remain unpaid.
[S. 14B inserted by s. 11 (c) of Act 18 of 2016 w.e.f. 1 October 2016.]