Tables of Interest Rates - South African Revenue Service

Interest rates charged in terms of the legislation administered by SARS are split into three main categories, i.e. –

interest charged on outstanding taxes, duties and levies and those payable in respect of refunds of tax on successful appeals and certain delayed refunds
interest payable on credit amounts (overpayment of provisional tax) in terms of section 89quat(4) of the Income Tax Act, 1962
interest applicable to a loan denominated in the currency of the Republic, as described in paragraph (a) of the definition of ‘official rate of interest’ in section 1(1) of the Income Tax Act, 1962

For ease of reference, the tables of interest rates are given below in three separate documents, numbered according to the three main categories, i.e. the first group of interest rates can be found in Table 1.

Table	Description
Table 1	Interest rates on outstanding taxes and interest rates payable on certain refunds of tax updated on 17 September 2020
Table 2	Interest rates payable on credit amounts updated on 17 September 2020
Table 3	Rates at which interest-free or low interest loans are subject to income tax updated on 27 July 2020 * The South African Reserve Bank changed the “repo rate” on 24 July 2020

Table

Description

Table 1

Interest rates on outstanding taxes and interest rates payable on certain refunds of tax
updated on 17 September 2020

Table 2

Interest rates payable on credit amounts
updated on 17 September 2020

Table 3

Rates at which interest-free or low interest loans are subject to income tax
updated on 27 July 2020

* The South African Reserve Bank changed the “repo rate” on 24 July 2020

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