Originally Posted by
dellatjie
Hi,
I have tried to calculate the interest to determine how they calculate, in the end I worked on the declared amount, and differed with 2cents or so, so that should be it. Therefore, at the end of each month you will say AMOUNT DECLARED x INTEREST RATE / 12 (MONTHLY).
On the last page of the VAT 201 there is a block for penalties and interest. I don't think there is a place to declare penalties and interest after you have submitted your return.
An important thing to note, is that you may only pay on the last working day of the month if you SUBMIT and PAY via e-filing. If you pay via internet banking, it is still payable on the 25th or the last working day before that. And by working day I mean Monday to Friday, excl public holidays. So be careful!
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