BY: Augustina Coleman
The Registrar General’s Department has commenced the validation of companies in line with the directive for companies to file their returns .Companies that fail to file their returns may be delisted by the Registrar .
The three months review of companies has began in July 2021, and is expected to end on September 30, 2021. The review is necessary to assist officials of various companies to file their annual returns. The exercise was also to restructure the Registrar General’s database to minimise bloated data. According to the Registrar General about 257,241 companies in the new database had not filled their returns with the department and 670,282 companies in the system had not re_registered .
The exercise is very important since it will help keep correct update of businesses and their details which will be very useful to the Registrar General database . Therefore companies are also being reminded that the penalty for late filling is GH¢450.00 and GH¢50.000 for filling of Annual Returns each year.
A company may be classified as inactive when review process is not met and such companies may not be able to operate any business for 12 years except with an Appeal from court to the Registrar to restore them back. Companies are therefore adviced to make good use of the 3 months period to undertake all necessary measures out in place by the Registrar General Department . This is to help boost their businesses and reputation as well.