(1) The Principal Act is amended -

(a) in section 172K(6) by substituting the following for paragraph (b):

"(b) Any amount of dividend withholding tax payable in accordance with this Chapter without the making of an assessment shall carry interest from the date when the amount becomes due and payable until payment -

(i) for any day or part of a day before 1 July 2009 during which the amount remains unpaid, at a rate of 0.0322 per cent, and

(ii) for any day or part of a day on or after 1 July 2009 during which the amount remains unpaid, at a rate of 0.0274 per cent.",

(b) in section 240(3) by substituting the following for paragraph (a):

"(a) Any tax payable in accordance with section 239 without the making of an assessment shall carry interest from the date when the amount becomes due and payable until payment -

(i) for any day or part of a day before 1 August 1978 during which the amount remains unpaid, at a rate of 0.0492 per cent,

(ii) for any day or part of a day on or after 1 August 1978 and before 1 April 1998 during which the amount remains unpaid, at a rate of 0.0410 per cent,