(1) Any tax or part thereof deducted or deductible under sections 53, 63, 76, 77, or 78 and not paid by the time specified in those sections or in section 116 bear interest at the rate of 1% per year above the prevailing prime rate of interest or such other rate as may be prescribed by the Minister by Order made by statutory instrument for the period during which it remains unpaid.
(2) Any interest imposed on any person under subsection (1) shall be a debt by that person and shall not be recoverable by him or her from the person in respect of whom the tax was deducted or should have been deducted.
(Amended by Act 18 of 1990 and 11 of 2007)