The late fee imposed by the Companies Office of Jamaica C-O-J became effective today.

As of today companies that file their annual returns late, will have to pay a penalty of between one hundred dollars, and 10 thousand dollars per day.

The companies act allows charges to be made on all companies, who fail to file each outstanding annual return, within the 28 days, after the made-up date.

Deputy Chief Executive officer of the C-O-J, Shelly Leon says annual returns for companies must be made-up on the anniversary date of incorporation, or the anniversary date of the last return.

This means that annual returns are to be filed, on the day they are made-up, or within the 28-day grace period, after the made-up date.

She stressed that after the grace period has passed, all returns are considered late. 

Ms. Leon explained that the C-O-J  decided to only impact annual returns, which are due as of today September 1.

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