Preliminary tax late payment rate

In last week's Money page, the article entitled "Deadline for preliminary tax bills looms", it was stated that the interest rate…

In last week's Money page, the article entitled "Deadline for preliminary tax bills looms", it was stated that the interest rate charged for late payment and underpayment of tax was 1.25 per cent per month or per part of a month until it is paid. The correct rate for late or underpaid tax is in fact 1 per cent per month.

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