What are the penalties and interests paid for provisional tax?
By Marc Sevitz · Updated
What are the penalties and interests paid for provisional tax?
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.
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.