Stamp Duties Act, 1968 (Act No. 77 of 1968)Chapter III: General Provisions Relating to the Stamping of Instruments9. Interest on Late Payments |
| (1) | If any duty is not paid in full within the period for payment prescribed by section 8, interest shall be paid at a rate of 10 per cent per annum on the balance of duty outstanding in respect of each month or part thereof during which it remains unpaid, reckoned from the day following the last date for payment contemplated in section 8 to the date of payment to the Commissioner. |
(2)
| (a) | If any instrument chargeable with duty bears an adhesive revenue stamp for the amount of such duty and the stamp has not been defaced as required by section 10, such instrument shall for the purposes of this section not be deemed to have been stamped within the relevant period for stamping prescribed by section 8 unless it is shown to the satisfaction of the Commissioner that such stamp was affixed to the instrument within such period. |
| (b) | Where it is shown to the satisfaction of the Commissioner that the stamp was affixed to such instrument within the said period, he shall make a note on the instrument to the effect that it is duly stamped. |
| (3) | Whenever an authorized branch officer deems it necessary, he may require evidence on oath or other satisfactory proof to be furnished to him of the date of affixing of any adhesive revenue stamp to any instrument or of the date of execution of any instrument or, if any instrument was executed outside the Republic, of the date when it was first received in the Republic. |
| (4) | *[Deleted by Revenue Laws Amendment Act, No. 32 of 2004] |