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What are the penalties and interests paid for provisional tax?

Posted 8 February 2016

Taxstudent says:
8 February 2016 at 16:54

What are the penalties and interests paid for provisional tax?

TaxTim TaxTim says:
8 February 2016 at 17:26

Late payment of provisional tax: a penalty of 10 percent on the assessed amount you owe;

Late submission of a provisional tax return: a penalty of 20 percent of what you owe; and

Underestimation of the amount of provisional tax: a penalty of 20 percent of the underestimated amount.

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