Bipa: Businesses granted penalty waiver
News in short
The Business and Intellectual Property Authority (Bipa) has announced its annual penalty waiver programme, aimed to ease the financial burden on businesses by waiving penalties and additional fees accumulated due to non-payment of annual duties from 2012 to 2022.
In a statement, Bipa CEO Vivienne Katjiuongua said to be eligible for the programme, businesses must meet specific conditions, including applying for the initiative and settling their outstanding capital amounts for each year of non-compliance.
Registered businesses are obligated to submit annual returns and pay associated duties, the statement read, adding that some business owners may have been unaware of these post-registration obligations, resulting in the accumulation of penalties.
“Non-compliant businesses, as per Bipa’s records, have collectively amassed approximately N$275 million in penalties from 2012 to 2022. This amount could potentially be waived if all non-compliant businesses participate in the programme.”
It is scheduled to run from 15 November to 31 March 2024.
In a statement, Bipa CEO Vivienne Katjiuongua said to be eligible for the programme, businesses must meet specific conditions, including applying for the initiative and settling their outstanding capital amounts for each year of non-compliance.
Registered businesses are obligated to submit annual returns and pay associated duties, the statement read, adding that some business owners may have been unaware of these post-registration obligations, resulting in the accumulation of penalties.
“Non-compliant businesses, as per Bipa’s records, have collectively amassed approximately N$275 million in penalties from 2012 to 2022. This amount could potentially be waived if all non-compliant businesses participate in the programme.”
It is scheduled to run from 15 November to 31 March 2024.
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