Over 180,000 companies struck off URSB register

The Uganda Registration Services Bureau (URSB) has deregistered 186,000 companies over failure to file annual returns.

Companies are by law mandated to register and file annual returns with URSB to enable the bureau sanction their transactions.

On March 20, URSB published a notice requiring all companies to file their annual returns.

Those that had failed to file annual returns for five years were required to file a statement of solvency to show cause why they should not be struck off the register, pursuant to Section 134(5) of the Companies Act 1 of 2012.

Mr Denis Nabende, the URSB spokesman, said: ‘‘All companies registered with URSB are required to file annual returns and our system shows the period these companies have forfeited on filing their returns.’’

Filing annual returns
He said filing annual returns was evidence enough that a company is in operation. URSB listed companies that have taken more than 10 years without filing annual returns on its website.

This comes a month after URSB struck off 875 companies under the same exercise of cleaning up the register over failure to meet their annual obligations of filing returns.

Mr Nabende said this exercise will go on as they monitor all those companies that do not file their annual returns. 

However, he said many companies have heeded to the call and paid their returns. He extended a call to all companies that have been struck off to visit their offices to have their arrears cleared.

“We need to clean up the register. Many people open up companies for specific reasons and abandon them for years. Therefore, we shall continue to monitor all those companies to keep an up-to-date register,” Mr Nabende added.