Section 12: Penalty for late payment

12. Penalty for late payment (1) Where the manager of a designated establishment fails to pay any tax due on or before the last day on which it is payable under this Act, he shall be liable to pay to the Director-General, in addition to the tax, a penalty representing— (a) 10 per cent of the tax for the first month during which the tax remains unpaid; and (b) 2 per cent of the tax excluding the penalty for each subsequent month during which the tax remains unpaid, up to a maximum of 100 per cent of the tax. (2) — [S. 12 amended by Act 25 of 1994.]