New CAC Rules: Pay ₦150 Daily for Late Annual Returns Filing

Important Announcement for Small Business Owners in Nigeria

Are you a small business owner struggling to file your annual returns on time? If yes, then this news is for you. The Corporate Affairs Commission (CAC) has made major changes to the default fee rules for late annual returns filing.

Previous Default Fee

In the past, if you missed the July 1st deadline for annual returns filing, CAC charged a flat ₦5,000 default fee for the entire year.

New Daily Default Fee System

Under the new rules, there is no longer a single default fee for the year. Instead, CAC will charge ₦150 per day from July 2nd until you file your annual returns.

For example, if you file 182 days late, the total default fee adds up to ₦27,300 (182 days x ₦150 daily fee).

How Much Will You Pay if Annual Returns Are Not Filed?

To calculate your potential default fee:

  • Number of days late x ₦150 daily fee = Your total default fee payment

The longer you delay annual returns filing, the higher the compounding default fees become. Miss the deadline and it could really cost you!

Avoid the New Higher Default Fees with SME Mall

At The SME Mall, we specialize in helping small businesses like yours stay compliant with CAC regulations. Our CAC annual returns filing service ensures:

  • Timely submission before the deadline to avoid any default fees
  • Professional handling of all documentation and paperwork
  • Updates on any changes to CAC rules and requirements
  • Affordable pricing to fit small business budgets

Don’t let the new daily default fee system hurt your finances. Use SME Mall’s hassle-free annual returns service today.

Other Small Business Solutions from SME Mall

In addition to CAC annual returns, we provide a wide range of professional services:

  • Legal advisory and documentation
  • Accounting, tax filing, and financial management
  • HR services like payroll, hiring, employee management
  • Business planning, strategy, and consulting
  • Marketing, branding, website design
  • IT/software services and tech support

One-stop for all your small business needs! Contact us now to learn more about our affordable solutions.

Don’t delay – get your annual returns filed before July 1st to avoid costly default fees. Call SME Mall today for a quick, easy, reliable CAC compliance solution.