The number of companies that file annual returns on time has risen from one in ten in 1997 to seven in ten this year, according to the Companies Registration Office (CRO).
However, the CRO says it is unhappy with the number of companies that are filing late returns and is starting a campaign with a view to obtaining 100 per cent compliance.
Already this year, over €10 million has been collected in fines for failure to make returns on time, giving a total of €22 million in fines over the past 18 months.
Under current legislation, companies must make annual returns 14 days after the date of the company's annual general meeting for the year.
A late filing penalty of €100 becomes is imposed on the day after the expiry of the filing deadline, with a daily penalty amount of €3 accruing up to a maximum penalty of €1,200 per return.