The Company Annual Fee is levied under Law No.10/96 on all public and private companies registered at the Ministry of Economic Development.
A fixed amount of MVR 10,000/- is to be paid by all public companies and MVR 2,000/- is to be paid by all private companies. This annual fee is payable by all companies, regardless of the time of the year the company was registered. Company Annual Fee can be paid online via VaaruPay. Click here to proceed to VaaruPay.
Company annual fee for each year should be paid by the end March of that year.
Information required in making payment
The company registration certificate or the company name of the owner and registration number or Taxpayer Identification Number (TIN) will be required when making payments.
A fine is charged if a company fails to pay the company annual fee by end March. If the fee is paid before the end of April, a fine of Rufiyaa 1,000/- is charged. Failing this, a fine of MVR 2500/- is charged if the fee is paid after the month of April.