It is legal. The late payment fees and compound interest charged by banks to credit card users are stipulated in the credit card articles. Applying for a credit card is equivalent to signing and agreeing to fulfill the provisions of the credit card articles. Failure to pay late fees and compound interest will constitute a breach of contract.

Overdue Payment is a certain proportion of the overdue tax levied on taxpayers who do not pay taxes by the tax deadline. It is a tax levy imposed by the tax authorities on overdue taxes. A measure of economic sanctions imposed by people.

The characteristics are:

(1) Applicable to those who have the obligation to pay money.

(2) The obligor fails to perform his obligations beyond the prescribed time limit.

(3) This can be done repeatedly, specifically in the form of additional charges on a daily basis.

For example, in accordance with the relevant provisions of the tax law, the tax authorities will levy a certain proportion of daily fines on units and individuals who fail to pay taxes within the prescribed time limit for their tax arrears. Mainly applicable to the field of taxation, but not limited to this. Where there is an obligation to pay money in other management fields, when the counterparty fails to perform the obligation, late payment fees may be imposed, such as environmental protection sewage fees, etc.

The late payment penalty measure can not only avoid damage to national interests due to the obligor's failure to perform its obligations, but also avoid direct damage to the rights and interests of the counterparty, and can encourage them to perform their obligations as soon as possible, so it can be used as a effective means of administrative management.

What are the characteristics?

It is legal, mandatory and punitive.

The so-called statutory nature means that late payment fees are expressly stipulated by national laws and regulations, and individuals and other groups have no right to set them up privately;

Mandatory means that the collection of late payment fees It is implemented by the compulsory force of the state;

Punitive means that late payment fees are punitive measures taken for payments that exceed the prescribed time limit. According to the above characteristics of late payment fines, late payment fines can only occur when the legal status of the two parties is unequal and the state exercises public power. For example, Article 32 of the "Law of the People's Republic of China on the Administration of Tax Collection and Administration" stipulates: " If the taxpayer fails to pay the tax within the prescribed time limit, and the withholding agent fails to pay the tax within the prescribed time limit, the tax authorities, in addition to ordering payment within a time limit, will also impose an additional 10,000 yuan on the overdue tax on a daily basis starting from the date of overdue tax payment. ”

For example:

(1) The tax payable by taxpayer Xiao Liu in January is 10,000 yuan, which should be paid on February 15, but Xiao Liu forgot. After receiving the tax bureau’s reminder notice on the 16th, Xiao Liu will pay a late payment fee of 10,000 yuan, which is: 10,000 yuan * 1 * 0.05% = 5.0 yuan, late payment fee. At least 5 yuan.

(2) Xiao Ma’s bank credit card was supposed to repay the last month’s consumption amount of 40,000 yuan on March 25, 2013, but Xiao Ma only repaid 30,000 yuan at that time, and it could not be returned until he received his salary on the 28th of that month. There is 10,000 yuan left, so Xiao Ma needs to pay a late payment penalty of 10,000 yuan for 3 days. Assuming that the rate of late payment fee is 0.01%/day, then the extra late payment fee that should be paid when returning the remaining amount is: 10000*3*0.01%=3 (yuan ).