Payroll Management

Human resources remain an integral part of any business, so it is imperative that companies have a firm hold on the management of payroll and HR-related documentation.

It is becoming increasingly common for businesses to outsource payroll management systems, as these can be both resource and time-intensive for companies to oversee internally. GCB Malta Ltd offers its clients reliable, quick, and continuously updated payroll management services that are up to speed with all the latest legislative requirements. Our teams can manage your payroll requirements with utmost confidentiality, tailoring the service to your company structure.

Full Compliance with Statutory Requirements

Companies that are registered with the Maltese authorities and which engage in employment activities must ensure that they keep updated records of employee contracts, engagement forms, salaries, bonuses and allowances, as well as a full record of any income tax and social security contributions deductions that must be paid to the Commissioner for Revenue.

Our systems have been designed to prepare payroll services that meet all the above statutory requirements, including any payments that need to be submitted on a monthly and yearly basis to the relevant authorities.

Some of the key services that we offer include the following, all of which can be tailored to your specific needs.

Employee Payslips and Salaries

Our staff can calculate employee salaries as per their employment contracts, taking into account all pertinent bonuses and allowances, and the relevant tax and social security contributions deductions.

We can generate payslips on a monthly basis that companies can then distribute to their respective employees.

Furthermore, we can even prepare and submit SEPA files to your bank of choice, so that employee salary payments can be executed efficiently by the company signatory.

Income Tax Deductions

As per standard requirements, our staff will calculate and deduct income tax contributions from employees’ monthly gross salary, as per the Final Settlement System (FSS).

Whether your company engages employees on a full-time or part-time basis, we can easily perform all the necessary calculations with ease.

We can also provide assistance to companies for income taxes by non-resident employees, as well as director fees that have a specific taxation rate when compared to other employees.

Social Security Contributions

Social security contributions (SSC) or National Insurance (NI) contributions are made by every registered employee on a monthly basis. This necessitates a host of different calculations and submissions that the employer is required to make to the Commission of Inland Revenue.

GCB Malta Ltd can prepare your monthly FS5 return, also known as the Payer’s Monthly Payment Advice, which summarising key information such as the gross salaries for all the employees, all monthly income tax employee contributions, all monthly SSC deductions for both the employee and employers, and the monthly maternity fund contributions.

Annual Submission

Every employer in Malta is obligated to submit the FS3 and FS7 forms on an annual basis to the Inland Revenue Department. GCB Malta Ltd can support your company in preparing and submitting these annual forms in a timely manner.

FS7 forms are an annual declaration of a company’s total output in terms of employee salaries, income taxes, SSC, and maternity fund contributions for all registered employees.

FS3 forms are similar annual declarations that are made for each specific employee, with an original being submitted to the employee for their personal income tax returns.

All the above services are complemented by our corporate and personal taxation services that can support companies and individuals in submitting their annual income tax returns.

GCB MaltaYour Partner in Business
GCB Malta Ltd offers a vast range of services in the financial sector.

No. 27, Triq G. Grech Delicata
Birkirkara, BKR 4467 – Malta

+356 21341308
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Copyright GCB Malta. All rights reserved.

Copyright GCB Malta. All rights reserved.