What is the fines for a company failing to publish financial statements in your country?

[King Belieal]

In my country and most other countries, companies must publish their financial statements anually or within a particular time range for other countries.

A company that fails to publish financial statements and on time in the USA would be fined $2 million. In UK, the fine is £7 million. In my country, Nigeria, such a company would pay $1 million.

What is the fine for failure to publish financial statements in your country?

 

[Kross]

Apart from just paying fines, a company that fails to submit their financial statements would have their operational license revoked. The fine is based on the size of the company and it's structure.

 

[Augusta]

Are you for real they pay that amount in Nigeria for not publishing their account.i didn't know that

 

[King Belieal]

Are you for real they pay that amount in Nigeria for not publishing their account.i didn't know that

Yes, they pay that fine. Every registered company in Nigeria publishes their financial statements. I know that is one regulation that Nigerian authorities don't joke with.

 

[Augusta]

Ok then if you say so. But I wonder how many Nigerians would pay that because I know the rate of Nigerians wanting to evade stuff like this is high