Section 125: Interest on unpaid duty, levy and tax
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.
125. Interest on unpaid duty, levy and tax
(1) Any person who fails to pay any duty, levy and tax under section 115, 119 or 123 shall be liable to pay, in addition to the duty, levy and
tax and penalty under sections 116, 117 and 120, interest at the rate of one
per cent per month or part of the month during which the duty, levy and tax
remains unpaid.
(2) The interest shall not apply to any penalty under sections 116, 117
and 120.
(3) This section shall, subject to section 60 (1B), not apply to an assessment of any sum due under section 60 (1A).
(S. 125 came into operation on 6 December 2007.)
[S. 125 amended by s. 10 (s) of Act 26 of 2012 w.e.f. 22 December 2012; by s. 21 (o) of
Act 9 of 2015 w.e.f. 14 May 2015; s. 25 (zb) of Act 18 of 2016 w.e.f. 1 October 2016.]
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Questions this section answers
- What interest rate applies to duty, levy or tax I leave unpaid?