Section 9Part 0 —
Interest on tax assessed
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Where an assessment is made under section 7(3), the tax assessed shall carry interest at the prescribed rate in respect of the period beginning on the date on which the tax (if not assessable under that subsection) would have become due and payable and ending on the date of payment.
If the circumstances are such that an assessment under section 7(3) could have been made, but before such an assessment was made the tax due was paid (so that no such assessment was necessary), that tax shall carry interest at the prescribed rate in respect of the period beginning on the date on which the tax (if not assessable under that subsection) would have become due and payable and ending on the date of payment.
Any interest carried on tax by virtue of this section —
shall be treated as tax for the purposes of this Law; and
shall be recoverable as tax notwithstanding any surcharge to which the proprietor is liable.
In this section — "the prescribed rate" means such rate as may be prescribed by the Governor in Cabinet.
Defined Terms
prescribed rate