Legal Counsel Publications – Changes to the Tables of Interest Rates

27 January 2023  

Updated to SARS Tables of Interest Rates are as follows:

Table 1 – Interest rates on outstanding taxes and interest rates payable on certain refunds of tax was changed from to 9.75% to 10.5% effective from 1 March 2023.

Table 2 – Interest rates payable on credit amounts was changed from 5.75% to 6.50% effective from 1 March 2023.

Table 3 – Rates at which interest-free or low interest loans are subject to income tax changed from 8.00% to 8.25% effective 1 February 2023.

You can find the proposed tables of interests here.