DOHA: The decks have finally been cleared for the launch of the much-awaited Wage Protection System (WPS) whereby all workers in the country would be paid wages through bank transfers.
Workers who have been hired on annual or monthly salaries are to be paid once a month, but all other workers must be paid at least once every two weeks.
The State Cabinet yesterday approved a draft law that seeks to facilitate the launch of the WPS, Qatar News Agency (QNA) reported.
The draft law empowers the Minister of Labour and Social Affairs to frame rules for the functioning of the WPS. The Minister must issue a decision to implement those rules.
The draft legislation is to be referred by the State Cabinet to the Advisory Council for review and recommendations.
Exchange houses are also to be made part of the WPS along with banks, earlier media reports have suggested.
It will be mandatory for employers to transfer the wages of workers to their accounts within a specified time, says the draft law that was approved yesterday.
It was earlier reported that the WPS is to be implemented in three phases.
The first phase will cover companies with 500 and more employees, while in the second phase companies with 100 to 500 workers will be included.
In the third and last phase, all companies with less than 100 workers will be asked to transfer the salaries of their workers to their respective accounts with banks or exchange houses.
Delays in wage payment would attract punitive action, which is to be specified by rules that will be put in place by the labour minister.
Also, the Cabinet, at its weekly meeting held at the Emiri Diwan yesterday, took measures to issue a draft law that seeks to allow tax exemption to foreigners on capital gains from sale of Qatari shares or sale of mutual fund units or shares held in investment or portfolio funds listed on Qatar’s bourse.
Tax exemption is also sought to be given, vide the draft law, to foreign investors on income earned from dividend from listed stocks and mutual fund units or investment or portfolio funds as well as interest earned from listed bonds, sukuk or any other debt instruments.