GLOBAL PAYROLL AND TAX COMPLIANCE
Outsource your global payroll and human resources fulfillment to a primary partner.
Payroll management is a very complex and delicate task, since the decisions affect the salaries of the employees. Payroll needs to be handled carefully because errors and misjudgments can lead to employee dissatisfaction and even company penalties. Outsourcing and payroll processing includes all activities performed by a company to pay employees, which typically occurs on a certain date each month.
Which companies benefit from payroll outsourcing?
Small and midsize businesses that prefer to use third-party payroll and tax service providers to free up time and resources for core business operations.
Representative offices facing difficulties related to a limited workforce and foreign employment ratio requirements.
Multinationals seeking payroll services for their large employee base to ensure accuracy and full compliance with local laws.
Why do companies need payroll processing services?
Payroll management can be a complicated and resource-intensive process. Companies need a payroll team with the knowledge to navigate ever-changing local tax and employment laws. The process can be time consuming as it involves calculating individual employee income tax and other wage garnishments such as bonuses, allowances, benefits and more. Companies often prefer to outsource payroll activities to an experienced payroll company due to the complexity of such tasks.
Best Employee Service
Start-ups or small businesses have a single HR person or a very small HR team, making good employee service a challenge. Your payroll team’s high employee turnover rate may also influence your company’s outsourcing of monthly payroll processing. It can be very difficult to offer your employees the same level of service and flexibility that a mature payroll outsourcing company offers in payroll processing, transaction and related reporting services. An experienced small business payroll processing provider has the ability to answer your employees’ questions about payroll calculations, provide expert guidance and information on the latest regulations. Most small business payroll processing providers offer access to the payroll system so that employees can easily check their attendance records and access their pay stubs.
Focus on your business
Outsourcing administrative tasks of payroll operations to a mature payroll processing outsourcing company like GLB SERVICES allows you to focus on your core business. Our payroll services help boost your company’s performance, freeing your team from time-consuming payroll tasks so you can focus on developing your business strategy.
Functional experience
The GLB SERVICES team is made up of the best and brightest payroll experts in the world. We pride ourselves on our ability to provide high-quality and efficient payroll services. We believe in providing the most accurate advice and guidance for our clients, never compromising quality for ease. We emphasize the importance of comprehensive training, continuous learning and we encourage the continuous professional development of our team.
Save time
Outsourcing your payroll activities frees up a significant amount of time so you can focus on your core business goals. As your payroll service provider, GLB SERVICES takes care of your HR needs so you can focus on optimizing your business performance.
Save money
For many startups and SMBs, it is much more cost-effective to outsource payroll processing than it is to hire an in-house HR team and provide them with payroll tools, hardware and software.
TAX
- COMPILATION OF TAX RETURNS
- TAX PAYMENT MANAGEMENT
- MAINTENANCE OF LEGAL ACCOUNTING BOOKS
- COMPILATION OF THE ANNUAL INCOME TAX RETURN AND PREPARATION OF THE NECESSARY TAX CONCILIATION.
TAX PLANNING
- TAX AUDIT
- FISCAL STRATEGY
- IMPLEMENTATION OF THE FISCAL STRATEGY ON THE ACCOUNTING PROCEDURE
- PERSONAL TRAINING AND SUPERVISION OF THE TAX STRATEGY AND ITS PROCEDURE
Pricing structure
The GLB SERVICES payroll service fee structure varies depending on the country of interest. In general, our price includes:
Installation fee
Monthly processing fees (per employee)
Applicable local taxes
through a main partner. GLB SERVICES
MANDATORY BENEFITS ADMINISTRATION
Outsource your statutory benefits administration
GLB SERVICES , offers legal benefit management services for companies with global operations. Legal benefits are labor advantages implemented by the government of a country through contributions, deductions and mandatory insurance. Often, both the employer and the employee are required to contribute to these benefits.
Statutory benefits generally include unemployment insurance, work injury insurance, health insurance, national pension, and overtime compensation. However, legal benefits and contribution requirements vary by country and sometimes by city. Rates and contribution bases are often adjusted each year, making it difficult for employers to keep up and adjust to changes. Errors and violations may result in government penalties and fines.
Due to the complexity of enforcing mandated benefits, it is common for companies to outsource the administration of their statutory benefits to local HR outsourcing providers such as GLB SERVICES . The experts at GLB SERVICES stay up-to-date with the latest changes in legislation and benefit requirements, ensuring that your business remains in full compliance with local labor laws. We take the stress out of benefit compliance so you can focus on your core business goals.
Small and medium businesses
Lack of a strong administrative department.
Branches abroad
Without a local HR department in that specific country.
Foreign companies
Centralization of labor for essential activities.
Reasons to outsource the administration of your legal benefits
Legal business obligations
Legal benefits administration is a demanding task that requires functional expertise and accuracy. Due to the challenges such a business imposes, many companies prefer to outsource benefits management to mature service providers such as GLB SERVICES . GLB SERVICES allows you to focus on your core business while we manage your mandatory benefit compliance activities.
Functional competence
GLB SERVICES recruits seasoned professionals with local experience and international exposure. We support the development of our workforce by providing regular training sessions and staying up to date with important policy updates. For years, GLB SERVICES has been a trusted advisor and service provider for SMEs. Our team continually demonstrates our ability to maintain the highest standards of quality and accuracy.
Advantages of information and communication
GLB SERVICES provides an easy way to access employee benefit information by granting access to employee records and social contribution acknowledgment sheets. Our team answers questions from employers and employees and provides information on relevant policy updates. We handle such queries in any desired language.
Save time
Small or medium-sized businesses may not prefer to invest their resources in non-core business activities and prefer to focus their resources on their revenue-generating line of business, leaving the rest of the cumbersome administrative tasks to us.
Save on costs
By outsourcing legal benefits administration to GLB SERVICES , companies minimize the costs incurred by recruiting, developing and maintaining an in-house administrative team. As an established outsourcing company, GLB SERVICES offers cost-effective, comprehensive solution packages that provide significant added value to your business.
Manage risk
GLB SERVICES not only lightens your administrative burden, but also shares the risk with your company by accepting the risks related to compliance. We also provide legal updates on mandatory compliance to keep you informed.
Accounting Service
- ACCOUNTING CONTROL OVER ASSETS AND INVENTORY
- FINANCIAL STATE
- PREPARATION OF CORPORATE REPORTS
- HELP AND WORK WITH INTERNAL AND EXTERNAL AUDIT STAFF
- CREATION OF THE CATALOG OF ACCOUNTS
- PROCESSING OF ACCOUNTING INFORMATION
- BANK RECONCILIATION
- PREPARATION AND INTEGRATION OF ACCOUNTS
Pricing structure
GLB SERVICES Legal Benefits Compliance pricing model varies by country. In general, the service fee includes:
Monthly processing fees (per number of employees)
Applicable local taxes
Reasons to outsource the administration of your legal benefits
Company formation refers to the incorporation of a company within a certain jurisdiction. When taking their business across national borders, many business owners choose to register the business under the authority of the foreign country. While a company may be onshore or offshore, the decision depends on business needs and government requirements. The decision to incorporate is often influenced by local tax rates, the presence or absence of VAT (Value Added Tax), the structure and openness of local government, and legal policies regarding foreign business operations.
If the owner of a company decides to incorporate, the company must follow all the instructions established by the registration procedures of the country. Once this process is complete, the newly registered company becomes a separate legal entity and has its own rights and responsibilities. A company is owned by its shareholders and run by its directors, but the company owner can specify corporate governance duties and responsibilities through the Articles of Association (AoA). The AoA establishes the purpose of the company, identifies how the company will issue shares, and defines the organizational structure of the company.
Your company abroad established by local lawyers
Smooth procedure in accordance with local laws
A team of professionals at your company's disposal
Expertise
Our consultants provide professional business registration services in accordance with the laws and regulations of the chosen country.
Save time
We select the most cost-effective method to manage your legal structure setup procedure, ensuring a smooth setup that meets all requirements and timelines.
What are the requirements for setting up a company?
The process of incorporating and registering a company involves many legal complexities and strict procedures. Each legal entity has its own obligations and requirements in accordance with applicable local laws and regulations. Starting a business in a foreign country can seem like a daunting task for many businesses, especially those with limited capital and staff. It requires a great deal of research and preparation to understand foreign incorporation laws and remain compliant with policies that may differ from those applied by the company’s home country.
Before you start
When considering establishing and incorporating your business in a foreign market, it is important to develop a preliminary plan. It is essential to think about:
- Business scope
- Company structure
- Business environment
- Tax system
- Company Name
- Capital requirement
GLB SERVICES provides precise advice on the jurisdiction in which a company would benefit most, based on its business scope, structure and other expectations. For example, some jurisdictions provide certain companies with favorable business environments where there are less stringent restrictions on business scope and more attractive tax systems.
One of the most important factors for business owners to consider is the legal ownership and operation of their business. Owners must remember that shareholders and directors have a huge impact on the success of the new company. Are there nationality restrictions for ownership of shares? Can another company (ie the parent company) be the sole shareholder of the new company?
It is essential that you carefully evaluate the choice of the name of your company. The name of a company is the first impression that the business has on its potential customers. It is essential that an appropriate name is chosen for the proposed company. This involves cultural, religious, traditional, and language research on the market being entered. To be successful, the company name must not contain any potentially offensive or ostracizing meaning or connotation.
Before a company can be approved to operate, business owners must also consider possible minimum registered capital requirements. Are there minimum registered capital requirements for incorporation in the country being considered? If yes, what capital requirements apply to your business category?
GLB SERVICES guides you through the planning process to ensure that you and your business are properly prepared for incorporation. Our experts will guide you through market options, ownership and operating implications, business name verification, and capital requirements. We work closely with you to make sure you fully understand your options and next steps.
The company formation process
GLB SERVICES is here to help your business through the company formation process. The process differs for each regional jurisdiction, but the experts at GLB SERVICES have a deep understanding of local procedures and requirements. Below is a basic outline of the standard onboarding procedure:
Step 1
GLB SERVICES checks and verifies the availability of the proposed company name.
Step 2
We help you prepare all the necessary application documents in accordance with local laws and regulations (eg, articles of association (AoA) and letters of appointment).
Step 3
Request the registration of your company. All you have to do is complete the corresponding application and our team will file it with the corresponding authority.
Step 4
NNRoad manages and files all the necessary documents and sends the request to the corresponding authority.
Step 5
Wait for the company incorporation application to be approved.
Step 6
Company formation is approved and verification documents are provided for your new company.
Success! Incorporation of the company approved.
After the new legal entity is approved and incorporated, you will receive the certificate of incorporation from the business registry. From now on, GLB SERVICES will be more than happy to help you run and maintain your business.
Company formation
GLB SERVICES prides itself on its ability to handle your company’s formation request and monitor the approval process efficiently and effectively. To optimize the time needed for application and approval, it is essential that the required documents are provided to us in a timely manner. Only after we have collected all the necessary documents can we submit the application to the local authorities and start the formal approval process.
Multiple factors, such as the type of business entity desired and the business jurisdiction within which the application is processed, affect the length of the process. In the case of a dormant company, it usually takes a week for corporate formation approval. However, if the applicant wishes to set up a “tailor-made” company, especially as a foreign company owner, the approval time frame would be longer. The complexity of the incorporation process also varies from country to country.
At GLB SERVICES , we go to great lengths to ensure your company’s formation request is organized for approval as quickly as possible. Our knowledge of required materials, procedures, authorities and legal implications ease the application process, adding immense value by accelerating entry into foreign markets.
Outsource your tax and accounting to global professionals
Whether a company is a start-up or an established company, tax and accounting activities have a great influence on the success of the business. Managing taxes and accounting is not an easy task, as decisions often affect cash flow and reporting implications. This is especially true for companies that go global. Even basic level accounting needs to be adapted to conform to the reporting standards of the relevant country. Complicated reporting requirements in foreign jurisdictions greatly increase the cost of in-house resources and can become a burden, taking business owners away from their core business. Expanding a business abroad involves immense levels of legal and strategic complexity, creating the need for customized international accounting and tax services.
At GLB SERVICES we support your business with an experienced team of accountants. GLB SERVICES provides the necessary resources, experience, and advice to help you navigate such complexities. We understand the stress of operating under the laws of foreign countries, as each country has different accounting standards to follow.
GLB SERVICES offers a range of solutions for your tax and accounting needs. Our team is committed to providing the best tax and accounting services to support the success of your business expansion. Our dedicated experts are constantly updated on the ever-changing rules and regulations of international accounting and tax law, ensuring that your business operates in full compliance with applicable laws and procedures.
Complete Taxes and Accounting from A to Z
Corporate Taxation
Los reglamentos y leyes relacionados con este impuesto directo sobre la renta de una empresa varían en cada jurisdicción. Entonces, si su empresa Operating in a single country or across the globe, GLB SERVICES comprehensive tax service can help you manage your tax and accounting lifecycle.
– Permanent advice, planning and implementation of the corporate tax structure.
– Prepare the pertinent fiscal reports and assist in the presentation of said reports to the authorities.
Individual Taxation
The calculation and accounting of personal income tax are different in each jurisdiction. Chipat’s highly professional and knowledgeable team can help you manage the filing and payment of taxes for your employees.
– Calculation of income tax according to local regulations and laws.
– Prepare relevant tax reports and help present those reports to the authorities.
Tax information reports
Tax information reporting is a statutory obligation for organizations to report the details of their payments to the tax authorities in any jurisdiction. GLB SERVICES helps provide the regulatory requirements that are set by the authorities and also informs the continuous changes that are made by the tax authorities.
Financial statements
The preparation, maintenance and reporting of financial statements are very important to any organization. At GLB SERVICES , our professional experts help provide daily, monthly or annual financial statements, although the tasks may vary from country to country depending on rules and regulations.
- Preparation of tax invoices, accounts receivable and payable, general vouchers, as well as verification of claims and payments on behalf of the client.
- Monthly reports like bank reconciliation, trial balance, balance sheet, profit and loss statements, etc.
- Annual. Year-end tax preparation/filing/payments, annual tax and accounting audit.
Accounting Framework
Establishing an accounting framework is vital for any organization to operate in compliance. However, for any startup, this could be a cumbersome process as they are core organizations with limited resources. GLB SERVICES can help these businesses offload those overheads and have peace of mind.
– We can assist in the implementation of the tax and accounting platform and also provide ongoing consultation and services.
– We can help you prepare the framework and also manage your day-to-day tax and accounting.
Annual taxes and audit
One of the most important factors for business sustainability is recording and reporting accurate financial details. In order to do due diligence, it is vital that any organization has proper auditing processes in place. At GLB SERVICES we offer customized services for your organization to proactively monitor your accounting processes and help you increase profitability and growth.
Billing
Invoicing comes into the picture when there is a transaction between two parties, mainly the buyer and the seller. A proper invoice must have all the required details and must be handled professionally. Chipat’s outsourced accounting services help the organization to provide the invoice for its financial transaction and simplify the invoicing process worldwide.
Benefits of Tax and Accounting Outsourcing
As businesses grow and expand, accounting and tax outsourcing helps manage local compliance and regulatory requirements. Additionally, outsourcing complex tax and accounting activities allows finance executives to focus on core business strategies while saving time and reducing finance department costs.
- Diverse and qualified tax and accounting professionals in all jurisdictions provide comprehensive compliance services.
- Tax professionals improve control, accuracy and timing of tax functions.
One of the main benefits of outsourcing tax and accounting outsourcing services is business growth. When taxes and accounting are taken care of, boards, departments, and employees can increase their focus on strategic, high-value activities, thereby becoming more productive.
How long does it take to implement the tax and accounting service?
We start our tax and accounting services as soon as the agreement between the accounting outsourcing companies is signed. The company must submit several documents, including:
- Your business license
- Bank account details
- Tax ID
- Other relevant documents
The list of required documents tends to vary from country to country. GLB SERVICES will request all the necessary documents according to the rules and regulations of the corresponding country.
The time frame needed to complete the tasks depends on whether the company has a legal entity in the relevant country. It also depends on the type of service provided.
Other services
- TAX COMPLIANCE
- ACCOUNTING PROCEDURES
- MANAGEMENT OF PAYROLL
DEBT RECOVERY MANAGEMENT
The debt recovery service that we offer is defined in five steps, which are possible to execute through the use of a system that allows controlling and structuring a methodology of parameters of the conditions and factors previously defined according to the needs and standards of the customer.
Are you ready for a better and more productive business?
Stop worrying about problems. Focus on your business. Let us give you the support you deserve.
