€11.35m CRO filing penalties account for 61% of revenues

The bulk of revenues generated by the Companies Registration Office (CRO) last year came from penalties imposed on companies filing late annual accounts.

According to the CRO’s 2014 annual report, the CRO last year increased the income from late filing penalties by 7% to €11.35m.

The €11.35m received in late filing penalties accounted for 61% of the CRO’s total 2014 revenues of €18.57m and compares to €7m received in submission fees.