Companies defy annual returns deadline

Friday, July 08, 2016

About 99% of the companies that were early this year threatened with de-registration for failure to submit their annual returns have disregarded the Companies and Intellectual Property Authority (CIPA) deadline call.

Earlier this year, CIPA announced they had decided to take action against companies that have been failing to comply for the past five years by giving them until April to submit their annual fees and penalties.

In an interview with BusinessWeek on Wednesday, CIPA Awareness and Communications Manager Marietta Magashula said from the 60,000 companies that were notified of their default only 500 approached CIPA to rectify the issue.

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Companies defy annual returns deadline

About 99% of the companies that were early this year threatened with de-registration for failure to submit their annual returns have disregarded the Companies and Intellectual Property Authority (CIPA) deadline call.