Penalty for late filing and non-filing of annual returns increased from GHC650 to GHC1,000 -ORC
The Office of the Registrar of Companies (ORC) in Ghana has raised the penalty for late filing or non-filing of annual returns from GHC650 to GHC1,000. This decision, which came into effect on May 1, aims to discourage companies from defaulting on their annual return submissions, as required by the Companies Act, 2019 (Act 992). The Registrar's Office implemented this measure after numerous publications of defaulting companies in the media and on its official website. The penalty increase is in accordance with Section 126 of the Companies Act, which requires every company to submit its Annual Returns at least once...
