Section 90P: Interest on unpaid duty

(1) A person who fails to pay duty is liable to pay interest at a rate equal to 2 percent per month on the duty unpaid calculated from the date on which the payment was due until the date on which payment is made. (2) Interest paid by a person under subsection (1) shall be refunded to the person to the extent that the duty to which the interest relates is found not to have been due and payable. (3) Where good cause is shown, in writing, by the person liable for payment of interest, the Minister may, on the advice of the Commissioner General, remit, in whole or in part, any interest charged under this section. (5) Interest charged under this section shall be simple interest. (6) The provisions of this Act relating to the collection and recovery of duty apply to any interest charged under this section as if it were duty due.