What are the penalties and interests paid for provisional tax?

By Marc Sevitz · Updated

Taxstudent

Taxstudent said:
8 February 2016 at 16:54

What are the penalties and interests paid for provisional tax?
TaxTim Marc

TaxTim Marc said:
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.