Although Offshore can be defined in many ways, generally Offshore employees/contractors are working in a country other than their place of citizenship, but are not on a full expatriate package. They usually rotate between countries and are never in one particular taxing jurisdiction more than 180 days. Often these people work in consulting, government, construction management, and the oil & gas Industries. Although their compensation packages are typically straightforward, the employing organization may have tax liability in the host locations depending on work visas, length of stay and activities performed.
One of the biggest struggles for managing a global offshore payroll is actually delivering net pay to the employees into a myriad of bank accounts all over the world. Celergo excels at delivering funds into complicated jurisdictions and banking systems. Typically Celergo can pay these individuals in a much more cost effective manner than the client can through their own treasury operations.
Celergo’s clients leverage our technology to simplify offshore payrolls. Data can be loaded directly into the system from multiple systems and spreadsheets. Pay slips will be provided online to this highly mobile work force and outbound reporting for costs and accounting can be easily integrated into clients’ financial systems.
With all calculations in one system, reporting is simplified. All reports are in a consistent format, allowing you to access the necessary information more readily. This consolidated approach allows you to retrieve highly selective data quickly and easily. Information can also be passed along to your HR team, tax providers, and accountants. Integrated and consolidated reporting provides greater visibility and controls.
Tax and Compliance
Although most offshore payrolls primarily facilitate the cash payment to these employees globally, Celergo’s primary concern is to ensure local compliance and provide accuracy for any additional payrolls required for shadow taxes which may be due on these individuals
For more information about Managing OffShore Payrolls please contact us