MEF Exempts Workers’/Employees’ Allowances from Tax on Salary and Tax on Fringe Benefits

The Ministry of Economy and Finance has issued new Circular No. 011 dated 06 October 2016 on the Implementation of Obligation to Withhold Tax on Fringe Benefits ("Circular"). This Circular is a replacement to Circular No. 002 dated 20 January 2015 on the Implementation of Obligation to Withhold Tax on Salary and Tax on Fringe Benefits. 

New Minimum Wage for 2017

On 29 September 2016, the Ministry of Labour and Vocational Training issued Prakas No. 414 on the increase in the minimum wage for year 2017 for workers or employees in the textile, garment and footwear industries. This is an update to the previous Prakas No. 409/15 on the minimum wage for year 2016.