Finance Minister Aiyaz Sayed-Khaiyum said he is certain that employers will not be exploiting the university students who are taken in to get the tax deductions offered in the 2016/2017 National Budget.
A bold plan was unveiled in the budget last night which gives the private sector incentives to hire young people, either to teach them skills or give them jobs.
The government has increased the existing tax deduction to companies that give people jobs for the first time from 150 per cent to 200 per cent.
They are also offering a 200 per cent tax deduction on wages paid for the first six months to students who are on job placement to satisfy graduation requirements.
In addition, a 200 percent tax deduction will apply to students engaged for up to three months in a year in an employment related to their field of study.
Employers will now be able to claim 150% tax deduction, should they pay for their employees to pursue further studies.
Sayed-Khaiyum said the requirements are clear for the employers.
The Finance Minister also said they are also looking at the new law for retail hours as many people would like to have shops open 24/7.
He said the employment laws are already there to protect the retail assistants and the shops will be free to choose on whether they want to open late.
