The prevailing Average Discount Rate for the month of September 2010 inclusive of the statutory two (2%) per centum per annum is 22.0% per annum. This means that the interest rate for the month of September 2010 will be calculated as follows:

INTEREST = Amount Owed x 22.0% x Time for which money is owed (days)

365 Days

Note:
The 22.0% is the annual simple rate of interest which must be charged on due unpaid amounts during the month of September 2010. The simple interest is payable on outstanding amounts of duty, import VAT and fines, and should be calculated at the prevailing average discount rate as derived above.