Our priority is to provide bespoke quality payroll services accurately in a timely manner.

Payroll Services

Maintaining a payroll function inhouse is sometimes a significant cost for businesses. Depending on the size of the entity, such cost could be prohibitive. It would require valuable resources in staff and funds which could be invested in the operational aspects of the Business instead.

Our priority is to provide bespoke quality payroll services accurately in a timely manner, to allow our clients to benefit from cost savings and focus their valuable resources on the vital operations of their business.

We provide full services, payroll tax reporting, low cost payroll presentation and time efficient filing of local payroll taxes. Some of our payroll services are listed below:

Payroll services:

  • Registration of your company as an employer to the local authorities (Social Insurance and Income Tax)
  • Registration of your employees with the local authorities (Social Insurance and Income Tax, were applicable)
  • Preparation of weekly and/or monthly payroll calculations
  • Salaries in any currency with custom calculations through user defined formulas for earnings, deductions or contributions.
  • Overtime allowances.
  • Bonus, 13th salary calculations (where applicable).
  • Keeps track of employee vacations, sick leaves, unpaid leaves etc.
  • Preparation of tax computations for each employee to accurately determine the monthly tax deductions, based on the signed IR59 form of the employee.
  • Arrange timely payment of wages, salaries and deductions (Income Tax and Social Insurance).

Payroll reporting services (Cyprus companies)

  • Monthly payslips
  • Payroll analysis (single payroll or any date range) with department and cost center analysis.
  • Journal entries for the accounting department.
  • Bank payment instructions.
  • Timely preparation and submission of annual tax returns e.g. IR63 (Employees’ Certificate of Emoluments), IR7 (Employer’s Return)
  • Provident fund reports.

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