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Payroll Services for Companies in Malta

Updated on Thursday 03rd August 2017

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Payroll-services-for-companies-in-MaltaOne of the most important stages of opening a company in Malta is employment. Malta has a strict employment legislation which provides for the conclusion of individual or collective work contracts and it also sets out the regulation related to the rights and obligations of both employer and employees.

One of the rights of Maltese employees is to be remunerated for the work they supply which is offered under the form of a salary. Additionally, an employee can be rewarded with various bonuses. The processing of workers’ salaries is called payroll and it is usually carried out by the human resources (HR) department in Maltese companies.

Even if it may seem simple, using specific payroll services is recommended in Malta. Moreover, foreign investors can benefit from both HR and payroll services in Malta.

Registration of employees in Malta

In order to be able to pay the taxes on salaries and the social contributions related to each employee, a Maltese company is required to register with the Inland Revenue Department (IRD) as an employer. On the other hand, the employees must register with the Employment and Training Corporation (ETC). When using the services of an accounting firm in Malta, the payroll process, including the registration with these two authorities can be handled by this firm.

We would also like to remind you that you can count on our company formation services if you want to open a company in Malta.

Paying taxes for employees in Malta

The accounting of a company in Malta will also mean paying the taxes related to employment, therefore payroll solutions are usually included when hiring a specialized firm. Payroll in Malta implies filing a monthly and an annual form with the IRD. Additionally, the employer must hand over a report with all the taxes paid during the year to each worker.

HR and payroll solutions in Malta

When requesting HR and payroll services in Malta, you will benefit from the following solutions:

  • -          drafting and registration of employment contracts;
  • -          filing monthly and annual tax forms related to employment;
  • -          monthly salary transfer to the employees’ accounts;
  • -          preparation of annual leave documentation;
  • -          income tax and social security deductions.

For full information on the accounting, including payroll, and company registration services available in Malta, please feel free to contact us.

 

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