Deadline extended for companies to submit annual reports

Financial authorities have extended the deadline for private and public companies to submit their latest annual reports and audit figures until November 22, local media has reported.

With the previous deadline set by the Economic Ministry set to expire tomorrow, authorities have reportedly decided to offer companies an extension for submitting their reports to take into account the recent Eid al-Adha holiday period, according to Haveeru.

Failure to meet these revised deadlines will result in fines of MVR10,000 and MVR 30,000 being imposed on the managing directors of private and public companies respectively.