The 2-tier penalty framework for filing of annual returns and annual declarations by Singapore companies, Variable Capital Companies (VCCs) and Limited Liability Partnerships (LLPs) will be deferred. It was supposed to take effect from the 30th of April 2021.

The current penalty framework will continue to apply:

Late lodgement penalty for Local Companies: Flat rate of $300

Late lodgement penalty for Foreign Companies, VCCs, and LLPs: 8-tier penalties ranging from $50 to $350