Regulatory Alerts2026-01-07
Added · Updated
Notice of Enforcement of Penalties for Late Filing of Information Returns
The Competent Authority and Designated Supervisory Authorities will enforce penalties for late filings of information returns under the Automatic Exchange of Financial Account Information Act, 2017. Late filings for 2022 and 2023 are addressed by the Competent Authority, while 2024 filings are handled by the relevant Designated Supervisory Authority. Recipients of penalty notices must either dispute them with documentary evidence or pay the assessed penalty within fourteen days. Failure to respond within this period may result in further regulatory action.
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