An increase in NIS rates will have serious implications for the business community

Dear Editor,

I refer to an article in your November 15, 2012 edition regarding the imbalance in “NIS investments.” For the business community, any increase in rates will have very serious implications. It is also reasonable to expect that higher rates could encourage more evasion.

While I fully understand that every effort must be made to bring NIS back into ‘balance,‘ other strategies should first be explored. In this regard, I strongly urge the umbrella business organisations to engage the wider business community in a comprehensive review of the current circumstances surrounding the actuarial report to find alternative strategies, including widening the NIS net.

Yours faithfully,
David Yhann

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