Defaulters of the payment of the business annual returns will pay a penalty, Madam Doris Ameyaw Ampedu, the Head of I.T at the Registrar General’s Department has said.

The penalty includes a flat rate of GHS300.00 in addition to the number of years one owes.

She said this was to serve as a punitive measure and to encourage new business owners to pay their returns promptly.

Speaking to the Ghana News Agency (GNA), Madam Ampedu explained that people who do not comply with the rule would not be able to amend any documents or information concerning their businesses.

“Such businesses will be labelled inactive hence the entity won’t be able to transact business with any investor who would wish to do business with them,” she said.

She said that measures were being put in place to forestall such occurrences.

She said they have designed text messages which will be sent to business owners to remind them of the due dates for renewal.