What is the penalty for non-submission of a FAS?

No fines are currently prescribed for non-submission of FASs, but it depends on the merits of the case

If e.g. no accounting records were kept, fine may be issued


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.

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