Interest Rates
SARS has published updated editions of the Interest Rate Tables (Tables 1 and 2), relating to the interest rates on outstanding taxes and interest rates payable on certain refunds of tax (Table 1) and interest rates payable on credit amounts (Table 2).
Find a copy of Table 1 here.
This rate finds application in respect of interest charged on outstanding taxes, duties and levies and in respect of interest payable in respect of refunds of tax on successful appeals and certain delayed refunds.
Find a copy of Table 2 here.
This rate finds application in the case of Section 89quat(4) of the Income Tax Act 58 of 1962 – interest rates payable on credit amounts (overpayment of provisional tax).
16/09/2022