Interest Rates as at 1 March 2024
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 |
28/02/2011 |
9.5% |
| 01/03/2011 |
30/04/2014 |
8.5% |
| 01/05/2014 |
31/10/2014 |
9% |
| 01/11/2014 |
31/10/2015 |
9.25% |
| 01/11/2015 |
29/02/2016 |
9.5% |
| 01/03/2016 |
30/04/2016 |
9.75% |
| 01/05/2016 |
30/06/2016 |
10.25% |
| 01/07/2016 |
31/10/2017 |
10.5% |
| 01/11/2017 |
30/06/2018 |
10.25% |
| 01/07/2018 |
28/02/2019 |
10% |
| 01/03/2019 |
31/10/2019 |
10.25% |
| 01/11/2019 |
30/04/2020 |
10% |
| 01/05/2020 |
30/06/2020 |
9.75% |
| 01/07/2020 |
31/08/2020 |
7.75% |
| 01/09/2020 |
31/10/2020 |
7.25% |
| 01/11/2020 |
28/02/2022 |
7% |
| 01/03/2022 |
30/04/2022 |
7.25% |
| 01/05/2022 |
30/06/2022 |
7.5% |
| 01/07/2022 |
31/08/2022 |
7.75% |
| 01/09/2022 |
31/10/2022 |
8.25% |
| 01/11/2022 |
31/12/2022 |
9% |
| 01/01/2023 |
28/02/2023 |
9.75% |
| 01/03/2023 |
30/04/2023 |
10.5% |
| 01/05/2023 |
30/06/2023 |
10.75% |
| 01/07/2023 |
31/08/2023 |
11.25% |
| 01/09/2023 |
|
11.75% |
* 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 printed assessments well before their due date to ensure that taxpayers received 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 |
28/02/2011 |
5.5% |
| 01/03/2011 |
30/04/2014 |
4.5% |
| 01/05/2014 |
31/10/2014 |
5% |
| 01/11/2014 |
31/10/2015 |
5.25% |
| 01/11/2015 |
29/02/2014 |
5.5% |
| 01/03/2016 |
30/04/2016 |
5.75% |
| 01/05/2016 |
30/06/2016 |
6.25% |
| 01/07/2016 |
31/10/2017 |
6.5% |
| 01/11/2017 |
30/06/2018 |
6.25% |
| 01/07/2018 |
28/02/2019 |
6% |
| 01/03/2019 |
31/10/2019 |
6.25% |
| 01/11/2019 |
30/04/2020 |
6% |
| 01/05/2020 |
30/06/2020 |
5.75% |
| 01/07/2020 |
31/08/2020 |
3.75% |
| 01/09/2020 |
31/10/2020 |
3.25% |
| 01/11/2020 |
28/02/200 |
3% |
| 01/03/2022 |
30/04/2022 |
3.25% |
| 01/05/2022 |
30/06/2022 |
3.5% |
| 01/07/2022 |
31/08/2022 |
3.75% |
| 01/09/2022 |
31/10/2022 |
4.25% |
| 01/11/2022 |
31/12/2022 |
5% |
| 01/01/2023 |
28/02/2023 |
5.75% |
| 01/03/2023 |
30/04/2023 |
6.5% |
| 01/05/2023 |
30/06/2023 |
6.75% |
| 01/07/2023 |
31/08/2023 |
7.25% |
| 01/09/2023 |
|
7.75% |
* 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 |
30/09/2010 |
8% |
| 01/10/2010 |
28/02/2011 |
7% |
| 01/03/2011 |
31/07/2012 |
6.5% |
| 01/08/2012 |
31/01/2014 |
6% |
| 01/02/2014 |
31/07/2014 |
6.5% |
| 01/08/2014 |
31/07/2015 |
6.75% |
| 01/08/2015 |
30/11/2015 |
7% |
| 01/12/2015 |
31/01/2016 |
7.25% |
| 01/02/2016 |
31/03/2016 |
7.75% |
| 01/04/2016 |
31/07/2017 |
8% |
| 01/08/2017 |
31/03/2018 |
7.75% |
| 01/04/2018 |
30/11/2018 |
7.5% |
| 01/12/2018 |
31/07/2019 |
7.75% |
| 01/08/2019 |
31/01/2020 |
7.5% |
| 01/02/2020 |
31/03/2020 |
7.25% |
| 01/04/2020 |
30/04/2020 |
6.25% |
| 01/05/2020 |
31/05/202 |
5.25% |
| 01/06/2020 |
31/07/2020 |
4.75% |
| 01/08/2020 |
30/11/2021 |
4.5% |
| 01/12/2021 |
31/01/2022 |
4.75% |
| 01/02/2022 |
31/03/2022 |
5% |
| 01/04/2022 |
31/05/2022 |
5.25% |
| 01/06/2022 |
31/07/2022 |
5.75% |
| 01/08/2022 |
30/09/2022 |
6.5% |
| 01/10/2022 |
30/11/2022 |
7.25% |
| 01/12/2022 |
31/01/2023 |
8% |
| 01/02/2023 |
31/03/2023 |
8.25% |
| 01/04/2023 |
31/05/2023 |
8.75% |
| 01/06/2023 |
|
9.25% |
With effect from 1 March 2011 the official rate in respect of local low or no interest loans is linked to the repo rate, plus one percentage point. The official rate is adjusted on the first day of the month following a repo rate adjustment to allow employers time to adjust their payrolls and ensure a single rate is used in a month.
| 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% |
| 10/09/2010 |
9.50% |
| 19/11/2010 |
9.00% |
| 20/07/2012 |
8.50% |
| 30/01/2014 |
9.00% |
| 18/07/2014 |
9.25% |
| 24/07/2015 |
9.50% |
| 20/11/2015 |
9.75% |
| 29/01/2016 |
10.25% |
| 18/03/2016 |
10.50% |
| 21/07/2017 |
10.25% |
| 29/03/2018 |
10.00% |
| 23/11/2018 |
10.25% |
| 17/07/2019 |
10.00% |
| 17/01/2020 |
9.75% |
| 20/03/2020 |
8.75% |
| 15/04/2020 |
7.75% |
| 22/05/2020 |
7.25% |
| 24/07/2020 |
7.00% |
| 19/11/2021 |
7.25% |
| 28/01/2022 |
7.50% |
| 25/03/2022 |
7.75% |
| 20/05/2022 |
8.25% |
| 22/07/2022 |
9.00% |
| 23/09/2022 |
9.75% |
| 25/11/2022 |
10.50% |
| 31/03/2023 |
11.25% |
| 26/05/2023 |
11.75% |
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