The government on Tuesday pushed back the implementation of fines, which are to be levied on employers that fail to deposit salaries of foreign employees in bank accounts.
According to the amendment made to the Employment Act in 2016, all employers must deposit the salaries of expatriate workers in accounts of banks operated within the Maldives. Employers that fail to do so will be penalised between MVR 10,000 – 50,000.
While the fines were scheduled to come into effect on January 1, the Ministry of Economic Development amended the regulation to delay the fines by six months, with July 1, 2019, as the new date for implementation.
The government had previously postponed the fines and penalties on four counts.
Maldives brought the amendment to the Employment Act in 2016 to introduce Remittance Tax.