Interest Due. If your report is late, you must pay interest to each jurisdiction where tax is owed in column “9”. Take the # of Months late divided by 12, times the annual interest rate. This will get you the monthly interest rate, which is added to the annual interest rate. Insert a zero after the decimal, in front of the calculated rate. Ex: .054166 becomes .0054166. This final rate is multiplied by column “9”. Partial month (even one day) will be charged full month of interest. The annual interest can be found here: ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/interestrate.php TOTAL DUE: Enter the total of column “9” and column “10” for each jurisdiction listed that you traveled into for this period.
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Sources: Ifta Instructions and Tax Rates, Fuel Tax Agreement, Ifta Instructions and Tax Rates