The Business and Intellectual Property Authority (BIPA) on Tuesday announced the extension of the annual duty penalty waiver programme until 30 September.
“This decision is part of BIPA’s continued efforts [to] support local entrepreneurs to promote compliance in the business community,” reads the statement by BIPA acting chief executive officer Ainna Kaundu.
Kaundu said the penalty waiver applies to all business entities and to all outstanding annual duty payments and late fees due between 2012 and 2022.
The penalty waiver initiative, she said, allows registered business entities that are in arrears with their annual duty payments to regularise their status without being slapped with penelties or interest.
The initiative is an opportunity for busineses to bring their books to date and in order to avoid being de-registered.
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