Compliance Info


Annual renewal fee:
All companies and CC’s have to pay an annual renewal fee with the registrar of companies since 2005. Any outstanding payments will result in the de-registration of companies beginning 2010.

PAYE
Needs to be completed every month and handed in before the seventh of the following month. Failure will result in a penalty of 10% plus interest (set by government).

VAT
Vat return needs to be completed and handed in every two to four months before the 25th of the month following the end of the cycle month. Failure will result in a penalty of 10% plus interest (set by government).

EMP 501
Needs to be completed by every business including sole proprietors who employ staff at the beginning of each year. Non-compliance will result in penalties in also the delay of individual tax returns.

Individual tax returns
Needs to be completed by individuals on an annual basis. Failure will result in late submission penalties and interest.