The South African Revenue Service published updated interest rate tables on 12 August 2020. This includes:
- Table 1 - Interest rates charged on outstanding taxes, duties, and levies and interest rates payable in respect of refunds of tax on successful appeals and certain delayed refunds, which is reduced from 7.75% to 7.25% with effect from 1 September 2020;
- Table 2 - Interest rates payable on credit amounts (overpayment of provisional tax), which is reduced from 3.75% to 3.25% with effect …