The deadline for the payment of outstanding National Insurance contributions, without having to pay interest or penalties, has been extended from December 31st, 2022 to January 31st, 2023.
The decision to extend the deadline is as a result of the Minister of Finance desire to afford companies, agencies and other entities that are in arrears of their NIS contributions, a bit more time to pay without facing penalties that could further hamper their businesses.
In a media release today, the Ministry of Finance said the move was taken due to the financial difficulties experienced under the Covid-19 restrictions and the associated economic downturn in 2020 and 2021.
The Ministry said organisations with outstanding NIS contributions are urged to take advantage of this extension of time.
It added that so far, the NIS amnesty has raised $90 million.
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