Increase in additional tax rate payable under PT rules

A new proviso has been added to Rule 14 of the Payment of Provisional Tax (P.T.) Rules (SL 372.18) pursuant to Legal Notice 99 of 2022 which provides that the additional tax payable in respect of late payment of PT shall be charged, for any period or part thereof commencing on or after 1 June 2022, at the rate of 0.6% for each calendar month or part thereof.