Senegal
Corporate Guide

Are there any annual compliance requirements that a company must meet in Senegal?

Within six months of the end of the financial year, the management of the company must prepare the company's annual summary financial statements (known as "états financiers de synthèse") and must also prepare a management report. This is a legal obligation, and failure to comply exposes the manager of the company to civil penalties (payment of a fine) as well as criminal penalties. 

The company's annual summary financial statements are submitted to the ordinary general meeting of the shareholders, which decides on the approval of the financial statements. The approval of the financial statements must take place within six months of the end of the financial year, which is 31 December, and no later than 30 June of the following year.