V.I. Code tit. 33, § 1231 (2019)
2019 US Virgin Islands Code|Title 33 - Taxation and Finance|Subtitle 1 - Miscellaneous Internal Revenue Taxes|Part II - Procedure and Administration|Chapter 33 - Interest|Subchapter I - Interest on Underpayments|§ 1231. Interest on underpayment, nonpayment, or extensions of time for payment, of tax

 General rule  (a) If any amount of tax imposed by the internal revenue laws of the Virgin Islands (whether required to be shown on a return, or to be paid by stamp or by some other method) is not paid on or before the last date prescribed for payment, interest on such amount at the rate of 12 percent per annum shall be paid for the period from such last date to the date paid. Last date prescribed for payment  (b) For purposes of this section, the last date prescribed for payment of the tax shall be determined under chapter 23 of this title with the application of the following rules— (1) Extensions of time disregarded. The last date prescribed for payment shall be determined without regard to any extension of time for payment. (2) Installment payments. In the case of an election under section 862(a) of this title to pay the tax in installments— (A) the date prescribed for payment of each installment of the tax shown on the return shall be determined under section 862(b) of this title; and (B) the last date prescribed for payment of the first installment shall be deemed the last date prescribed for payment of any portion of the tax not shown on the return. (3) Jeopardy. The last date prescribed for payment shall be determined without regard to any notice and demand for payment issued, by reason of jeopardy (as provided in chapter 37 of this title), prior to the last date otherwise prescribed for such payment. (4) Last date for payment not otherwise prescribed. In the case of taxes payable by stamp and in all other cases in which the last date for payment is not otherwise prescribed, the last date for payment shall be deemed to be the date the liability for tax arises (and in no event shall be later than the date notice and demand for the tax is made by the Director). Suspension of interest in certain income tax cases  (c) In the case of a deficiency as defined in section 941 of this title (relating to income taxes), if a waiver of restrictions under section 943(d) of this title on the assessment of such deficiency has been filed, and if notice and demand by the Director for payment of such deficiency is not made within 30 days after the filing of such waiver, interest shall not be imposed on such deficiency for the period beginning immediately after such 30th day and ending with the date of notice and demand. Income tax reduced by carryback  (d) If the amount of any tax imposed by the Virgin Islands income tax law is reduced by reason of a carryback of a net operating loss, such reduction in tax shall not affect the computation of interest under this section for the period ending with the last day of the taxable year in which the net operating loss arises. Applicable rules  (e) Except as otherwise provided in this subtitle or the Virgin Islands income tax law— (1) Interest treated as tax. Interest prescribed under this section on any tax shall be paid upon notice and demand, and shall be assessed, collected, and paid in the same manner as taxes. Any reference in this subtitle or the Virgin Islands income tax law (except subchapter II of chapter 25 of this title, relating to deficiency procedures) to any internal revenue tax shall be deemed also to refer to interest imposed by this section on such tax. (2) No interest on interest. No interest under this section shall be imposed on the interest provided by this section. (3) Interest on penalties, additional amounts, or additions to the tax. Interest shall be imposed under subsection (a) of this section in respect of any assessable penalty, additional amount, or addition to the tax only if such assessable penalty, additional amount, or addition to the tax is not paid within 10 days from the date of notice and demand therefor, and in such case interest shall be imposed only for the period from the date of the notice and demand to the date of payment. (4) Payments made within 10 days after notice and demand. If notice and demand is made for payment of any amount, and if such amount is paid within 10 days after the date of such notice and demand, interest under this section on the amount so paid shall not be imposed for the period after the date of such notice and demand.