Penalties
If you don’t pay your taxes and duties by their due dates, you may have to pay late payment penalties.
Late payment penalties consist of:
- initial penalties for paying tax late, and
- monthly incremental penalties on any amounts that remain unpaid.
If you file your employer monthly schedule but do not pay the amount calculated, you may also have to pay non-payment penalties.
The amount of the penalty
All initial late payment penalties are applied in two stages:
- an initial 1% late payment penalty will be charged on the day after the due date
- a further 4% penalty will be charged if there is still an amount of unpaid tax (including penalties) at the end of the 7th day from the due date.
Every month the amount owing remains unpaid, a further 1% incremental penalty will be added.
The non-payment penalty is 10% of the amount not paid. A further 10% is added each month the amount remains outstanding.
