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OCR Notice on 90% Waiver on Fine for Late and Non-submission of Annual Filings

The Office of the Company Registrar ("OCR") has issued a notice on July 28, 2021 (2078/04/13) ("the Notice") regarding provision of waiver for companies established under the Companies Act 2006 (2063) ("Companies Act").

As per the Companies Act, companies are required to submit annual filings withing 6 months from the expiry of each fiscal year. Pursuant to the Notice, companies, who have not paid their fines imposed on them due to late or no submission of annual filings are entitled to seek 90% waiver on the accumulated fines. If companies submit the required documents, pay only 10% of the accumulated fine and get the company updated within Ashoj 2078 BS, then such companies will be provided 90% waiver on the accumulated fines.

**DISCLAIMER: This document is prepared for general understanding and should not be taken for any legal purpose without consulting legal professionals. ** The copyright of the document is vested with PLA.**

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