| (2) | Interest payable in respect of the— |
| (a) | first payment of provisional tax, is imposed from the effective date for the first payment of provisional tax until the earlier of the date on which the payment is made or the effective date for the second payment of provisional tax; |
| (b) | second payment of provisional tax, is imposed from the effective date for the second payment of provisional tax until the earlier of the date on which the payment is made or the effective date for income tax for the relevant year of assessment; |
| (c) | the first payment under section 5(1) or 5A of the Mineral and Petroleum Resources Royalty (Administration) Act, 2008 (Act No. 29 of 2008), is imposed from the effective date for the first payment until the earlier of the date on which the payment is made or the effective date for the second payment under section 5(2) or 5A of that Act for the relevant year of assessment; and |
[Section 188(2)(c) inserted by section 32(c) of the Tax Administration Laws Amendment Act, 2020 (Act No. 24 of 2020), GG44080, dated 20 January 2021]
| (d) | the second payment under section 5(2) or 5A of the Mineral and Petroleum Resources Royalty (Administration) Act, 2008 (Act No. 29 of 2008), is imposed from the effective date for the second payment until the earlier of the date on which the payment is made or the effective date for mineral and petroleum resources royalty under section 6(2) of that Act for the relevant year of assessment. |
[Section 188(2)(d) inserted by section 32(c) of the Tax Administration Laws Amendment Act, 2020 (Act No. 24 of 2020), GG44080, dated 20 January 2021]
| (3) | Unless otherwise provided under a tax Act— |
| (a) | interest on an amount refundable under section 190 is calculated from the later of the effective date or the date that the excess was received by SARS to the date the refunded tax is paid; and |
| (b) | for this purpose, if a refund is offset against a liability of the taxpayer under section 191, the date on which the offset is effected is considered to be the date of payment of the refund. |
