Business News of Thursday, 14 May 2020
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The Registrar General’s Department (RGD) has extended the deadline for filing of annual returns from April 30, 2020, to July 31, 2020, for companies whose financial year ended by December 31.
The Department said in a statement signed by Constance Adomaa Takyi, Head of Public Relations that “All other Companies whose Financial Year ended any time before 30 June 2020 are expected to file by 31 December 2020. Adding that, the extension “has become necessary due to the increasing number of Coronavirus cases in the country, which has resulted in the inability of most Companies to hold their Annual General Meetings as scheduled”.
“Companies are therefore expected to take advantage of the extended period to file their Annual Returns, as they would be required to pay an increased flat penalty rate of GHS 450 for noncompliance effective Monday, August 3, 2020,” the statement read further.
“To be in good standing in our database and prevent being taken off the Register, Business Names would have to pay for the number of years they have not renewed up to date BUT are not expected to pay any penalty.
“All Businesses who wish to be in good standing in our Register for Business purposes should make every effort to comply timeously with these directives,” the statement indicated.
Read below the full details of the statement.
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