President Bola Tinubu launched the New Expatriate Job Policy called the Expatriate Employment Levy (EEL), on February 28, 2024 which is a financial contribution imposed on employers who hire foreign workers.
Furthermore, the Expatriate Employment Levy which is mostly on the offshore earnings of expatriates working in Nigeria, aims to balance economic growth and workforce development by ensuring equitable contributions from expatriate employment.
According to handbook detailing the information about the policy indicated that offences, such: as inaccurate or incomplete information could lead to penalties.
The implication is that, the Expatriate Employment Levy (EEL) would close the wage gaps between expatriates and the Nigerian labour force while increasing employment opportunities for qualified Nigerians in foreign companies operating in the country.
Eight things you should know about Expatriate Employment Levy:
- Companies that breach the new Expatriate Employment Levy policy will pay N3m for each offence.
- The offences are not submitting EEL, not registering an employee, a corporate entity not renewing EEL within 30 days, and providing false information on EEL.
- Failure of a corporate entity to file EEL within 30 days is liable to a fine of N3,000,000.
- Failure to register an employee within 30 days will attract a fine of N3,000,000.
- Falsification of information on EEL is liable to a fine of N3,000,000.
- Failure of a corporate entity to renew EEL within 30 days attracts N3,000,000 fine.”
- Also, according to the handbook, companies are expected to pay $15,000 for expatriates employed as directors, and $10,000 for other categories.
- Employers of expatriates covered by the EEL are required to pay $15,000 for directors and $10,000 for other categories of expatriates”.
Meanwhile, the Ministry of Interior in a notice on its website stated that the EEL card is a mandatory document like a passport. It added that it would be required for any expatriate to leave and enter the country.
The ministry, however, fixed April 15 for compliance with the policy.
The notice partly read, “For further details and registration of your company and expatriates working with you, kindly go through the Handbook and User Manual available on the portal.
“The last date of compliance with EEL is Monday, April 15, 2024. “An EEL card is a mandatory document like a passport, and will be required at the time of lawful exit and entry into the country.”
Comments 1