Can a company or close corporation request exemption for the filing and payment of annual returns?
A company or close corporation is mandated by law to file annual returns annually and therefore, CIPC cannot exempt companies and close corporations from filing/complying with such requirement.
The prescribed filing fees for annual returns are legislated, and therefore such cannot be waived by the CIPC. The CIPC also cannot make arrangements for payment of annual returns in “instalments” since the prescribed fee must accompany the filing. If the prescribed fee does not accompany the filing, the filing is invalidated and must be refiled.
Disclaimer:
Please note that the information provided does not constitute legal or professional advice, but rather the applicability of existing theory to a given practical situation. Due care is taken to ensure that the information is correct, but it remains subjective and an interpretation of application of information.
