IPA’s charges not supporting SMEs


AS the Government is trying everything it can to grow the small to medium enterprise (SME) sector in the country, the state agency responsible for executing that agenda, the Investment Promotion Authority (IPA) is doing the opposite – charging unnecessary penalty fees (K1,000 penalty fees for filing AR per year).
While it’s necessary to punish companies that not comply with their requirements, its implementation during these tough Covid-19 times is a great concern for all SME owners.
All companies, households and individuals have been hard hit by the pandemic and the IPA should consider this and exempt penalty fees for annual return lodgements for another six months or more.
Thus, without the IPA’s assistance during this trying times, the Government’s priority agenda of supporting and growing SMEs in the country will not be achieved and more SMEs would stop operating.

Concerned SME Owner