The South African Revenue Service (SARS) has published updated interest rate tables dated 22 November 2024, including:
- 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 11.75% to 11.50% with effect from 1 January 2025 (previously increased from 11.25% to 11.75% from 1 September 2023); and
- Table 2 - Interest rates payable on credit amounts…