Register your business or risk being prosecuted - RGD
The Registrar-General’s Department (RGD) has warned unregistered small medium enterprise owners operating to register their businesses or risk being prosecuted.
According to the department, entrepreneurs are being urged to register their businesses in order not to put before court.
The RGD, the thebftonline.com understands, that although some small and young businesses have been registered, there are still a large number which remain undocumented.
Assistant Registrar-General Sarah Nokor Anku, in interview, said it was required by law that every business setup in respective of its size is registered to aid in tax purposes.
“I will advise anybody who wants to start a business or have begun one, no matter the size, to register their business because the law requires you to register your business before you operate. So be it young entrepreneurs or any other person, I expect the person or group of persons to come and register their businesses. You need that registration even for tax purposes and that is what the law says. It is crucial, without that you would be breaking the law.”
Madam Nokor Anku further stated that, “you cannot start or operate a business without registering. The only time you can operate a business without registration is when you operate the business in your name and in only your name. So, everybody doing business in any name apart from their name must register.”