Interest Rates as at 1 July 2010
Interest Charged by SARS - Assessment, PAYE, Provisional Tax, SDL, and UIF
Interest Paid by SARS - Successful Appeal
| From |
To |
Rate |
| |
30/06/1982 |
7.5% |
| 01/07/1982 |
31/08/1984 |
10% |
| 01/09/1984 |
30/06/1989 |
15% |
| 01/07/1989* |
31/03/1994 |
18% |
| 01/04/1994 |
30/11/1998 |
15% |
| 01/12/1998 |
30/04/1999 |
19% |
| 01/05/1999 |
31/08/1999 |
16% |
| 01/09/1999 |
29/02/2000 |
14.5% |
| 01/03/2000 |
30/09/2002 |
13% |
| 01/10/2002 |
31/03/2003 |
15.5% |
| 01/04/2003** |
30/06/2003 |
16.5% |
| 01/07/2003 |
31/08/2003 |
15% |
| 01/09/2003 |
30/09/2003 |
14% |
| 01/10/2003 |
30/11/2003 |
13% |
| 01/12/2003 |
31/10/2004 |
11.5% |
| 01/11/2004 |
31/10/2006 |
10.5% |
| 01/11/2006 |
28/02/2007 |
11% |
| 01/03/2007 |
31/10/2007 |
12% |
| 01/11/2007 |
29/02/2008 |
13% |
| 01/03/2008 |
31/08/2008 |
14% |
| 01/09/2008 |
30/04/2009 |
15% |
| 01/05/2009 |
30/06/2009 |
13.5% |
| 01/07/2009 |
31/07/2009 |
12.5% |
| 01/08/2009 |
31/08/2009 |
11.5% |
| 01/09/2009 |
30/06/2010 |
10.5% |
| 01/07/2010 |
|
9.5% |
* May be 01/06/1989.
** The various tax laws were amended with effect from 1 April 2003 to link the interest rates in respect of outstanding taxes to the Public Finance and Management Act, 1999, (PFMA) rate in respect of certain debts due to the State. The PFMA rate is published by National Treasury by way of notice in the Gazette and is available at http://www.treasury.gov.za. This approach led to difficulties when interest rates changed, as SARS prints well before their due date to ensure that taxpayers receive them in good time. Accordingly, the tax laws were amended with effect from 27 July 2004 to provide for a two month lag between a change in the PFMA rate and the change in the interest rate in respect of outstanding debts.
Interest Paid by SARS - Assessment
| From |
To |
Rate |
| 01/09/1986 |
30/09/1987 |
15% |
| 01/10/1987 |
31/05/1989 |
12% |
| 01/06/1989 |
30/06/1993 |
14% |
| 01/07/1993 |
30/11/1998 |
12% |
| 01/12/1998 |
30/04/1999 |
14% |
| 01/05/1999 |
31/08/1999 |
12% |
| 01/09/1999 |
29/02/2000 |
10.5% |
| 01/03/2000 |
30/09/2002 |
9% |
| 01/10/2002 |
31/03/2003 |
11.5% |
| 01/04/2003* |
30/06/2003 |
12.5% |
| 01/07/2003 |
31/08/2003 |
11% |
| 01/09/2003 |
30/09/2003 |
10% |
| 01/10/2003 |
30/11/2003 |
9% |
| 01/12/2003 |
31/10/2004 |
7.5% |
| 01/11/2004 |
31/10/2006 |
6.5% |
| 01/11/2006 |
28/02/2007 |
7% |
| 01/03/2007 |
31/10/2007 |
8% |
| 01/11/2007 |
29/02/2008 |
9% |
| 01/03/2008 |
31/08/2008 |
10% |
| 01/09/2008 |
30/04/2009 |
11% |
| 01/05/2009 |
30/06/2009 |
9.5% |
| 01/07/2009 |
31/07/2009 |
8.5% |
| 01/08/2009 |
31/08/2009 |
7.5% |
| 01/09/2009 |
30/06/2010 |
6.5% |
| 01/07/2010 |
|
5.5% |
* With effect from 1 April 2003 the interest rate in respect of refunds of provisional tax overpaid is linked to the interest rate in respect of outstanding taxes, less four percentage points.
Interest Charged by SARS - VAT
| From |
To |
Rate |
|
31/05/1993 |
18% |
| 01/06/1993 |
30/11/1998 |
14.4% |
| 01/12/1998 |
30/04/1999 |
19.2% |
| 01/05/1999 |
31/08/1999 |
15.6% |
| 01/09/1999 |
29/02/2000 |
14.4% |
| 01/03/2000 |
30/09/2002 |
13.2% |
| 01/10/2002 |
31/03/2003 |
15.6% |
| 01/04/2003 |
As per first table. |
Interest Paid by SARS - VAT
| From |
To |
Rate |
|
31/05/1993 |
20% |
| 01/06/1993 |
30/11/1998 |
16% |
| 01/12/1998 |
30/04/1999 |
18% |
| 01/05/1999 |
31/08/1999 |
16% |
| 01/09/1999 |
29/02/2000 |
14.5% |
| 01/03/2000 |
30/09/2002 |
13% |
| 01/10/2002 |
31/03/2003 |
15.5% |
| 01/04/2003 |
As per first table. |
"Official" (Fringe Benefit) Rate - Local
| From |
To |
Rate |
| 01/03/1985 |
30/11/1985 |
18% |
| 01/12/1985 |
31/12/1986 |
15% |
| 01/01/1987 |
31/05/1989 |
13% |
| 01/06/1989 |
30/04/1990 |
16% |
| 01/05/1990 |
31/07/1992 |
19% |
| 01/08/1992 |
31/12/1992 |
17% |
| 01/01/1993 |
31/01/1994 |
15% |
| 01/02/1994 |
31/08/1995 |
14% |
| 01/09/1995 |
30/11/1998 |
16% |
| 01/12/1998 |
30/04/1999 |
19% |
| 01/05/1999 |
31/08/1999 |
16% |
| 01/09/1999 |
28/02/2000 |
14.5% |
| 01/03/2000 |
30/09/2001 |
13% |
| 01/10/2001 |
28/02/2002 |
10.5% |
| 01/03/2002 |
31/08/2002 |
11.5% |
| 01/09/2002 |
28/02/2003 |
13.5% |
| 01/03/2003 |
30/06/2003 |
14.5% |
| 01/07/2003 |
31/08/2003 |
13% |
| 01/09/2003 |
30/11/2003 |
12% |
| 01/12/2003 |
29/02/2004 |
9.5% |
| 01/03/2004 |
31/08/2004 |
9% |
| 01/09/2004 |
31/08/2005 |
8.5% |
| 01/09/2005 |
31/08/2006 |
8% |
| 01/09/2006 |
28/02/2007 |
9% |
| 01/03/2007 |
31/08/2007 |
10% |
| 01/09/2007 |
29/02/2008 |
11% |
| 01/03/2008 |
31/08/2008 |
12% |
| 01/09/2008 |
28/02/2009 |
13% |
| 01/03/2009 |
31/05/2009 |
11.5% |
| 01/06/2009 |
30/06/2009 |
9.5% |
| 01/07/2009 |
31/08/2009 |
8.5% |
| 01/09/2009 |
|
8% |
| From |
Rate |
30/04/1996 |
19.50% |
| 18/05/1996 |
20.50% |
| 01/07/1996 |
19.50% |
| 01/10/1996 |
19.25% |
| 21/11/1996 |
20.25% |
| 20/10/1997 |
19.25% |
| 10/03/1998 |
18.25% |
| 13/06/1998 |
20.25% |
| 01/07/1998 |
22.25% |
| 06/07/1998 |
24.00% |
| 31/08/1998 |
25.50% |
| 19/10/1998 |
24.50% |
| 09/11/1998 |
23.50% |
| 07/12/1998 |
23.00% |
| 11/01/1999 |
22.00% |
| 12/02/1999 |
21.00% |
| 08/03/1999 |
20.00% |
| 19/04/1999 |
19.00% |
| 25/06/1999 |
18.00% |
| 14/07/1999 |
17.50% |
| 02/08/1999 |
16.50% |
| 04/10/1999 |
15.50% |
| 21/01/2000 |
14.50% |
| 18/06/2001 |
13.75% |
| 16/07/2001 |
13.50% |
| 16/01/2002 |
14.50% |
| 18/03/2002 |
15.00% |
| 14/06/2002 |
16.00% |
| 13/09/2002 |
17.00% |
| 13/06/2003 |
15.50% |
| 15/08/2003 |
14.50% |
| 15/09/2003 |
13.50% |
| 20/10/2003 |
12.00% |
| 15/12/2003 |
11.50% |
| 16/08/2004 |
11.00% |
| 18/04/2005 |
10.50% |
| 12/06/2006 |
11.00% |
| 07/08/2006 |
11.50% |
| 16/10/2006 |
12.00% |
| 11/12/2006 |
12.50% |
| 11/06/2007 |
13.00% |
| 20/08/2007 |
13.50% |
| 15/10/2007 |
14.00% |
| 07/12/2007 |
14.50% |
| 11/04/2008 |
15.00% |
| 13/06/2008 |
15.50% |
| 15/12/2008 |
15.00% |
| 09/02/2009 |
14.00% |
| 25/03/2009 |
13.00% |
| 04/05/2009 |
12.00% |
| 29/05/2009 |
11.00% |
| 14/08/2009 |
10.50% |
| 26/03/2010 |
10.00% |
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