Payment of PT Rules – change to additional tax calculation

LN 304 of 2019 published on 19 November 2019, amends the Payment of Provisional Tax Rules (S.L. 372.18).

A new proviso to Rule 14(1) provides that in respect of periods commencing on or after 1 January 2020, additional tax due in relation to late payment of provisional tax shall be charged at 0.33% of the unpaid provisional tax (instead of 1%) for each calendar month or part thereof.