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Penalty fee for late payment of tax?

Posted 24 February 2015

Please explain what charges are laid against someone for paying tax late?

TaxTim TaxTim says:
25 February 2015 at 6:00

You can be penalised R250 or more per month for each month the return is outstanding for your final return. If your actual tax is paid late then you will pay interest at around 7% on the monies owing.

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