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Nikkei Markets

Malaysia back-pedals on foreign workers' levy move

Asks local employers to pay full fee; companies flag move to raise business cost

KUALA LUMPUR (Nikkei Markets) -- Malaysia Tuesday retreated from a previous move to ease charges that local companies pay for employing foreigners, saying employers will have to solely bear the levy as is the current practice.

The Malaysian employers will have to pay the entire 10,000 ringgit ($2418.6) annually as levy on foreign workers through a three-year extension, sharply higher than the 1,850 ringgit they have to pay annually for the first 10 years for each foreign staff, Finance Minister Lim Guan Eng said at a news conference.

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