What If i late for annual return and annual general meeting ?
If you are fail to comply with ACRA requirement such as failure in annual return filing, Composition fine and late lodgement fees will be imposed.
So, what is the different between composition fine and late lodgement fees ?
- is imposed on Company or Company Director who committed a breach. ACRA will offer composition fine instead of facing prosecution.
LATE LODGEMENT FEES
- is more related to breach in filing matters and it will only imposed at the time of lodgement
Enforcement action will be taken if company totally ignore above .
Related article : Enforcement action for breach of annual return filing and annual general meeting