Payment of Company Annual Fee

According to the Company Act (No. 10/96), although all companies have to pay their annual fee by 31 March, those companies who have applied for liquidation before 31 March, do not have to pay their Company Annual Fee for the given year. However, companies which have applied for liquidation after 31 March, which is the deadline for payment of Company Annual Fee, are required to pay annual fee for that year.

In addition, companies which have not applied for liquidation, nor paid their annual fee by 31 March 2013 are advised to pay their annual fee and the fine imposed for late payment, before 31 May 2013. Action will be taken against companies who fail to settle these payments by 31 May 2013 by the relevant government authorities, pursuant to Section 7 of Act no. 10/96 (Companies Act of Maldives). Furthermore, the MIRA will be taking action against companies defaulting on the fee payment under the action policies of this authority.

06 May 13