€3.9m in CRO e-form savings

IRISH companies who have filed a million e-forms with the Companies Registration Office (CRO) have saved €3.9 million annually in fees.

Those who don’t file returns electronically have lost out in €2m a year in savings.

Companies filing annual returns and accounts with the CRO this month careered through the 1,000,000 e-form barrier — more than 58% of all documents filed with the CRO being transmitted online which the CRO says is “faster, safer, easier and cheaper”. This marks a significant change from eight years ago when more than 350,000 multi-paged documents arrived annually by post at the CRO.

Speaking at the CRO to mark the milestone, Minister for Jobs, Enterprise and Innovation Richard Bruton highlighted the Government’s drive towards better e-government service provision and re-iterated that electronic filing is a win-win for companies and the CRO, resulting in time and money savings.

“A determined drive to improve the provision of government services online plays a crucial role in this, through reducing costs to businesses and the taxpayer and in government leading by example through innovation. Today’s news that the one-millionth online document has been filed at the CRO shows what is possible.

“In 2010 companies saved €3.9m on filing fees alone; however, a further €2m could have been saved if all companies had availed of the online filing facility. Clearly it makes sense that companies and those presenting on their behalf make use of the electronic forms available from CRO and the new PDF accounts and electronic signing system introduced last year for company annual returns. This system poses an ideal opportunity to save on printing, postage and filing costs.

“This Government is committed to doing everything in its power to help Irish business regain its edge and a key focus of this is reducing unnecessary red-tape and administrative costs.” concluded Minister Bruton.

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