sec.61AInterest on particular overpayments following commissioner’s decision

sec.61A Interest on particular overpayments following commissioner’s decision

This section applies if a taxpayer is entitled to a refund of tax or late payment interest (the overpaid amount ) because of a reassessment giving effect to a decision of the commissioner under section 67 (1) . The commissioner must pay interest on the overpaid amount. The interest must be calculated on a daily basis at the prescribed rate from the date the overpaid amount was paid to the commissioner to the date the refund is made by the commissioner. s 61A ins 2015 No. 4 s 80 (sec.61A-ssec.1) This section applies if a taxpayer is entitled to a refund of tax or late payment interest (the overpaid amount ) because of a reassessment giving effect to a decision of the commissioner under section 67 (1) . (sec.61A-ssec.2) The commissioner must pay interest on the overpaid amount. (sec.61A-ssec.3) The interest must be calculated on a daily basis at the prescribed rate from the date the overpaid amount was paid to the commissioner to the date the refund is made by the commissioner.