The Registrar General’s Department will from today (1st February 2017) begin sanctioning all business operators who have failed to file their annual returns and updates.
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According to the Registrar General, companies and partnerships who have failed to do so will pay a penalty of GH₵300.00 for each month that the entity defaults in addition to the statutory fees for which they are required to pay.
Registrar General in July 2016 commenced moves to get all business owners to file their annual returns as required by law. The move was also to wipe out from their records all dormant businesses in the country. But the commencement of the exercise late last year was extended after numerous pleas from business owners over the deadline given.
Despite the extension, some business owners tell Citi Business News they may not meet the new deadline. “What happened was that I actually did not hear about it and I was out of the country for some time. I just came today to do the returns and heard that today is the deadline. Right now what I am afraid of is that I may not be able to finish the process and will be forced to pay the penalty” a business operator told Citi Business News’ Jessica Ayorkor Aryee. Another said, “Actually I am conducting the transaction on behalf of my brother and he delayed so he wanted me to help him get it done before the deadline on Wednesday. So I’m hoping I’m able to file all the requirements today.” But the Public Relations Officer at the Registrar General’s department, Constance Adomaa Takyi said the department will still go ahead and will from today sanction companies that have failed to file their returns. “They have always come to plead for extension and we have listened. This was supposed to have ended on 31st December so we have given enough notices so I think we have done enough. Maybe not everyone might have heard it but that will still not prevent us from starting the penalty.” she said.
– By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana