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Annual returns amnesty extended

Published:Thursday | July 2, 2015 | 8:48 AM

The Industry, Investment and Commerce minister has announced an extension of the Annual Returns and Removals or Closures Amnesties until July 30.

The Annual Returns Amnesty involves the reduction in filing fees for annual returns for companies, while the removals and closures amnesties will benefit companies which seek to be removed or closed.

The extension comes after the initial two month amnesty period ended on Tuesday.

Industry minister Anthony Hylton says the extension is being granted based on the high level of response from businesses.

Under the Amnesty arrangements, profit-making companies may file Annual Returns at a reduced cost of $3,000 each.

Non-profit making companies may file each Annual Return for $1,000.

The penalty of $100 per day for filing Annual Returns late will be waived as well as the late fees for filing other company documents.

For business names, owners of delinquent businesses may use the opportunity to close the registrations for a flat fee of $2,000.

No outstanding renewal and late fee will be charged to close these Business Names.