On the 25th March 2020, given the current critical situation due to Covid-19, the Malta Business Registry (MBR) published a new notice on its website in relation to penalties for late filing of Annual Returns and Financial Statements.
In view of the recent outbreak of Coronavirus (Covid-19), the Registry promptly informed the public that, in compliance with public health authorities guidance, its business continuity contingency plans had been activated thereby ensuring operation to remote locations so as to reduce the situations where staff and clients were required to share a confined space.
Filing of Annual Return and Financial Statements
By issuing this new notice, the MBR underlines the mandatory position that every company is required to submit to the Registrar the Annual Return accompanied by the appropriate registration fee by not late than 42 days from the anniversary date of the Company’s registration date and the Financial Statements by the latest 10 months and 42 days (in case of a private company) or 7 months and 42 days (in case of a public company) from its financial year end, and that the above are to be filed on time.
For those who are registered, the Annual Return and Financial Statements can be filed electronically by accessing the MBR’s online portal via https://registry.mbr.mt/ROC/ and effecting the relevant payments to either one of the following bank account:
- BOV account with IBAN: MT09VALL22012000000040025310447; or
- HSBC account with IBAN: MT91MMEB44026000000002173649001
Annual Return and Financial Statements like any other document, may also be filed in paper form. However, to safeguard, protect and minimise its employees from any health risk related, paper documents should be left in an envelope and delivered in a dedicated letterbox at the entrance of the MBR premises. Processing of documents posted therein will start after 5 days from the delivery.
Furthermore, and in view of the current circumstances which are affecting our island, the Registry introduced further measures to support companies effected by the Covid-19 situation. For Companies for which the filing of the Annual Return and/or Financial Statements falls within the period of 23rd March 2020 and 31st May 2020, the relevant penalties on late filing of these statutory documents will be waived and penalties not imposed if these are filed with the Registrar by the 31st July 2020.
Additional documents
If a company has other additional notifications to submit with the MBR but, due to Covid-19, this is not possible, the Registry suggests it is informed via email on info@mbr.mt . It is important to note that if such an email is not sent within the notification period allowed by law for each notification, no revision of penalties will be considered for such company.
The email should include the following details:
- Name and registration number of the company;
- Type of notification/return (in case of statutory forms, for example Form T); and
- Reason such return cannot be filed.
For more information on the impact of Covid-19 on Maltese law and enterprise please contact any other member of Iuris Advocates.