House cuts fines for late UBO declarations
The House on Thursday passed an amendment to a law that significantly reduces the fines imposed on corporate entities for not declaring their ultimate beneficial owners (UBOs) on time.
Under ...
Thousands of companies face hefty fines
MPs heard on Tuesday that out of some 230,000 registered companies, so far only 140,000 have updated their records regarding their ultimate beneficial owners (UBOs), the rest facing hefty fines if they ...
UBO fines paid will be returned
All fines that companies paid before the ultimate beneficial owners (UBO) deadline was extended will be returned, it emerged on Tuesday during the House commerce committee.
So far, paid fines ...
Deadline for registering UBOs extended
A deadline for registering ultimate beneficial owners (UBOs) for all companies has been re-extended on Wednesday, according to a decision by the department of the registrar of companies.
The deadline ...
Minister accused of ‘lust for fines’
Tempers flared in parliament on Tuesday when MPs piled on Commerce Minister George Papanastasiou, berating him for the fact that thousands of companies face hefty fines for not having registered ...