On 7 May 2018, the South African Revenue Service has published an updated rate table for interest charged on outstanding taxes, duties, and levies, and interest rates payable in respect of refunds of tax on successful appeals and certain delayed refunds. At the same time SARS also released updated rate table for interest rates payable on credit amounts (over-payment of provisional tax) under section 89quat(4) of the Income Tax Act 58 of 1962. Effective from 1 July 2018, the interest rate will be reduced from 10.25% to 10.00% for overdue taxes and refunds. For credit amounts, the interest rate will be reduced from 6.25% to 6.00% effective from 1 July 2018.
Related Posts
South Africa: SARS consults on digital VAT modernisation
The South African Revenue Service (SARS) opened public consultation on the SARS Consultation Paper on Value Added Tax
Read More
South Africa: SARS rules on employee share incentive trust funding, vesting
The South African Revenue Service (SARS) has set out the income tax and capital gains tax treatment of cash grants made
Read More
South Africa clarifies retrospective certificates of origin for China zero-tariff treatment
South Africa’s Customs and Excise Act allows certificates of origin to be issued retrospectively for eligible
Read More
South Africa: SARS urges schools to apply for VAT deregistration
The South African Revenue Service (SARS), in a media release dated 7 August 2026, urged schools registered under the
Read More
South Africa: SARS issues rules for DTA advance pricing agreement system
South Africa has introduced a detailed framework for its Double Taxation Agreement (DTA) advance pricing agreement
Read More
South Africa consults on 2026 draft tax legislation
South Africa's National Treasury and the South African Revenue Service (SARS) have launched a public consultation on
Read More