With effect from 1st Dec 2015, ACRA will be implementing:
1) A flat penalty of $300 for the late filing of AR regardless of the length of default;
2) A composition sum of $300 for holding the AGM late (s175 of the Companies Act)
3) A composition sum of $300 for layout out-of-date financial statements at the AGM (s201 of the Companies Act)
Prior to these revisions, the penalty for late filing of AR and the composition sums for each breach of s175 and s201 range from $60 to $350, depending on the length of default.