Company annual fee has to be paid by end of March 2016

MIRA advises all companies to take heed of the approaching deadline for the payment of company annual fee. The deadline for payment of company annual fee for 2016 is 31 March 2016. Private companies have to pay MVR 2000/- as company annual fee while public companies have to may MVR 10,000/-.

If the fee is paid before the end of April, a fine of MVR 1,000/- is charged. Failing this, a fine of MVR 2500/- is charged if the fee is paid after the month of April. Action will be taken against those who default on the payment of company annual fee. 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.

As such, companies are advised to pay their company annual fee of 2016 before the deadline, 31 March 2016.

22 Mar 16