If a company fails to comply with recordkeeping requirements, it will be assessed a fine of 25 USD for each day from the time the violation is discovered until it is corrected.
The calculator allows you to calculate the approximate cost of maintenance of accounting services to support and audit the company.Calculate
According to article 63 “Accounting Books and Records”, all companies incorporated in Vanuatu must keep accounting records and books to reliably reflect the company’s financial position.
Copies of all source documents, registers, meeting minutes and resolutions must be kept either at the company’s address or in any other place where director deems necessary.
In the case of failure to comply with the requirement to keep accounting records, the company will be imposed with a penalty of 25 USD for each day from the time of disclosure of the violation to the time of its removal.
Audit is not required.
There is no requirement to prepare a consolidated report.