For failure to pay a business tax when due, the collector shall add a penalty to the business license tax. Where an audit or inspection of the books or records of a business reveals the amount of business tax paid for any business tax period is less than the amount which was actually due, it shall be deemed for purposes of this section that such deficiency was a failure to pay a business tax when due. Interest charges shall be added to all taxes imposed and remaining unpaid after delinquency, including any deficiency in payment of taxes. Penalties and interest as provided in this section shall be assessed from the date when the deficiency was required to be paid pursuant to this chapter. The collector may, for good cause shown, waive all or any part of any otherwise applicable penalty and interest. (Ord. 470 § 2 (part), 1991: prior code § 12-28)