TaxTMI 
TaxTMI 
Dear Sir,
Is interest payable on supplementary invoice raised on price revisions with retrospective effect, please clarify with any references regarding this,pls explain, thanks and regards.
INTEREST PAYMENT ON SUPPLEMENTARY INVOICE RAISED
24 Jul 2014 
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Interest on supplementary invoices must be paid from the original invoice date when price revisions apply retrospectively.
Supplementary invoices issued for retrospective price revisions require payment of interest from the date of the original/initial invoice until payment; practice responses cite an applied rate of 18 percent per annum and refer to precedent indicating that issuing a supplementary invoice does not remove the obligation to compute and discharge interest on the resulting tax/levy differential. (AI Summary)
Supplementary invoices issued for retrospective price revisions require payment of interest from the date of the original/initial invoice until payment; practice responses cite an applied rate of 18 percent per annum and refer to precedent indicating that issuing a supplementary invoice does not remove the obligation to compute and discharge interest on the resulting tax/levy differential. (AI Summary)