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.
