(1) A taxable person who fails to pay any tax payable by the due date shall be charged interest at the prevailing Bank of Ghana discount rate plus one-quarter of that rate for a month on the tax due if it remains unpaid for any part of the month after the date on which it is payable.

(2) Where the interest charged under subsection (1) is not paid by the due date, interest shall be charged on the unpaid interest in the same manner as interest is charged on unpaid tax.

(3) Any interest charged under this section and any penalty payable that remains unpaid shall be recoverable as a debt by the Commissioner in accordance with the provisions of this Act.