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Thread: Interest on late payment of PAYE and UIF

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    Interest on late payment of PAYE and UIF

    Hi,

    Could someone please tell me how SARS calculates the number of days that a payment for a EMP201 is late?

    Say I complete a EMP201 for the January 2012 period on 7 May 2012 - is this 8.5% interest for 3 months ie. 8.5% x 90/366 as it was due 7 February 2012 or 8.5% x 97/366 as it was for January 2012 taxes (so you don't get the 7 days leniency when paying late)?

    Please help :-)

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    Don't forget to add the penalty too
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    10% penalty and interest from the day it was due, i.e. 7 February

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    J7J (04-May-12)

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    Thank you for your replies.

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