Section 50F: Penalty for late payment of tax under APS
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
50F. Penalty for late payment of tax under APS
Where a company fails to pay any income tax due on or before the last
day on which it is payable under section 50B, it shall be liable to pay to the
Director-General, in addition to the tax, a penalty of 5 per cent of the
amount of tax remaining unpaid.
Sub-Part AB – Special Levy on Banks
[Sub-Part AB inserted by s. 17 (k) of Act 17 of 2007 w.e.f. 1 July 2007.]
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Questions this section answers
- What penalty does my company face if it pays its Advance Payment System tax late?