The rate of interest and additional tax to be applied by the Commissioner for Revenue on any tax liabilities and provisional tax payments, not paid by the relative due dates, has been amended through the publication of Legal Notice 99, entitled Interest and Additional Tax (Adjustment) Rules, 2022, on 4 March 2022.

The Rules increase the said rate of interest and additional tax to zero point six per cent (0.6%), formerly 0.33%, for each calendar month or part thereof with effect from 1 June 2022.

Should you require any further information in this respect please do not hesitate to contact the undersigned or your KPMG contact.