In addition to the fees for late returns or payments, noted above, a registered person is required to pay interest at 18%.
The statutory provisions requiring payment of interest were retrospectively amended from 1 July 2017 to provide that interest is payable only on the amount of outstanding GST liability which is discharged by the taxpayer through cash. In other words, no interest is payable on any tax liability that is offset using input tax credits. This provision is only applicable where the late payment of tax is on account of a delay in submitting a tax return, except where the return was filed late after the commencement of enforcement proceedings by the tax authorities.
Where the tax return has been filed on time, but the late payment of tax is on account of an omission to
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Web page updated on 17 Mar 2025 15:52