Statutory interest: Difference between revisions
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Statutory interest is interest imposed and calculated in accordance with a written law (statute). | Statutory interest is interest imposed and calculated in accordance with a written law (statute). | ||
Latest revision as of 08:47, 3 February 2022
Late payment - small & medium-sized enterprises - tax.
Statutory interest is interest imposed and calculated in accordance with a written law (statute).
Its purposes are generally to discourage late payments, or to compensate in cases of late payments that have occurred.
Examples include late commercial payments, and late payments of tax to a tax authority.
