The concept of late fees, how late fees are calculated and what they are

Late payment penalty refers to a kind of punitive payment levied on the payer beyond the prescribed payment period, generally a certain percentage of the payable amount is levied every day according to the number of days beyond the specified period. According to the theory of administrative law, late fees are a type of enforcement penalty in administrative enforcement.

Features of late fees.

It has the characteristics of statutory, mandatory and punitive. The so-called statutory nature means that the late payment fee is the money expressly stipulated in national laws and regulations, and individuals and other groups have no right to set it up privately; Mandatory means that the collection of late fees is guaranteed by the state's coercive force; Punitive refers to the punitive measure taken to pay late fees beyond the specified time limit. For example, the Law on the Administration of Tax Collection stipulates that "if a taxpayer fails to pay the tax within the prescribed time limit, and the withholding agent fails to release the tax within the prescribed time limit, the tax authorities shall impose a late payment penalty of 5/10,000 of the overdue tax amount on a daily basis from the date of the overdue tax payment, in addition to ordering the payment within the specified time limit." ”

Late payment penalty refers to the method by which an administrative organ imposes a new monetary payment obligation on a counterpart who fails to perform the monetary payment obligation within the time limit. The purpose is to urge them to perform their obligations as soon as possible, which is a specific form of enforcement penalty in administrative compulsory enforcement.

In layman's terms, it is a penalty for late payment after exceeding the specified payment period, such as the national tax regulations to pay VAT on the 10th, and you pay it on the 11th, then you need to pay a late fee of 5/10,000 of the VAT amount.

Legal analysis: If the taxes and fees are not paid within the time limit, the late payment penalty of 5/10,000 of the overdue tax amount will be imposed on a daily basis from the date of the delay in paying the tax from the date of the delay in paying the tax.

Legal basis: Article 32 of the Law of the People's Republic of China on the Administration of Tax Collection and Collection Taxpayers fail to pay taxes within the prescribed time limit; If the withholding agent fails to pay the tax within the prescribed time limit, the tax authorities shall impose a late payment penalty of 5/10,000 of the overdue tax amount on a daily basis, in addition to ordering the payment within the prescribed time limit.

Legal analysis: If the taxes and fees are not paid within the time limit, a late payment penalty of 5/10,000 of the overdue tax amount will be charged on a daily basis from the date of the overdue tax payment, that is, from the day after the tax payment is required.

Legal basis: Article 32 of the Law of the People's Republic of China on the Administration of Tax Collection and Collection Taxpayers fail to pay taxes within the prescribed time limit; If the withholding agent fails to pay the tax within the prescribed time limit, the tax authorities shall impose a late payment penalty of 5/10,000 of the overdue tax amount on a daily basis, in addition to ordering the taxpayer to pay the tax within the prescribed time limit.