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Accounting and Corporate Regulatory Authority
Announcement

2-tier Penalty Framework Deferred to Allow More Time For Transition

Audience

Businesses

Corporate service providers (CSPs)

News Topic

Enforcement and penalties

Regulatory updates

29 April 2021

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

29 Apr 2021

The implementation of the 2-tier penalty framework for filing of annual returns and annual declarations by Singapore incorporated companies, Variable Capital Companies and Limited Liability Partnerships has been put on hold to allow more time for transition.  The current penalty framework will continue to apply for late filing of annual returns and annual declarations.    

We urge all entities to comply with the statutory timelines and file the annual returns or annual declarations on time to avoid incurring late filing penalty.

For more information, please click here. 

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