Diamond Export Levy (Administration) Act, 2007 (Act No. 14 of 2007)Part V : Refunds and interest15. Interest (Repealed) |
[Section 15 repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)]
| (1) | The Commissioner must pay interest calculated on a monthly basis in respect of any amount paid in respect of an assessment period to the extent that amount— |
| (a) | exceeds the amount assessed or properly chargeable under the Levy Act for that assessment period, as the case may be; and |
| (b) | is not refunded within 30 days after receipt of a refund claim in respect of that excess. |
| (2) | A registered person must pay interest calculated on a monthly basis in respect of any amount due in respect of an assessment period that is not paid within 30 days after the ending date of that assessment period. |
| (3) | Interest required under this section must be calculated at the rate described in paragraph (b) of the definition of prescribed rate in section 1 of the Income Tax Act. |