Interest on refundable amounts

CAP. 51 Tax Administration and Procedure (2) In the case of tax due under a revised assessment, the due date for the calculation of interest is the original due date of the tax. 58.—(1) If the Director General is required to refund an amount under section 51(2), interest shall be paid to the taxpayer for the period from the due date to the date on which the refundable amount is paid. (2) Notwithstanding sub-section (1), if the Director General does not pay a refund required by the GST Act, within the time required pursuant to the GST Act, interest is payable by the Director General from the date the refund is required to be paid until the date on which the refund is paid. (3) Notwithstanding sub-section (1), no interest is payable in respect of a refund that is based on a claim for refund and is paid to the taxpayer within 90 days of the filing of the claim for refund. (4) A refundable amount that is applied against another tax liability under section 51(1) is considered to have been paid to the taxpayer on the due date of the liability against which the refundable amount was applied.