Consequences Of NIS Fraud For Employers And Employees

The Ministry of Finance intends to penalise companies which fail to pay their employees national insurance contributions.

This is the word from Minister in the Ministry of Finance, Brian Manning. Outlining the current amnesty period for companies to make the necessary payments, Minister Manning said only 10% of the companies which are not making the payments are expected to take advantage of the amnesty.

Minister Manning added that the Ministry expects to collect tens of millions of dollars to add to the National Insurance Board’s Fund from these non compliant employers.

Minister Manning indicated that the amnesty period is six months – from July to December.

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