Penalty for late filing of annual lodgements to increase with effect from 14 Jan 2022

With effect from 14 Jan 2022, there will be higher penalties for late filing of the annual lodgments by Singapore-incorporated companies, Variable Capital Companies and Limited Liability Partnerships. The penalty for late filing of the annual lodgments will be: $300 within the first 3 months after the due date or $600 more than 3 months after the filing due date. This applies to annual lodgments that are due on or after 14 Jan 2022. We encourage all entities to file their annual lodgments on time to avoid incurring the higher penalty. Companies which require our assistance on the filing of Annual Returns, please contact us HERE.

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