With constant changes in labour and taxation systems, payroll is one of the most challenging responsibilities a company faces. Managing personnel commitments can also be costly and time-consuming.
Outsourcing your payroll processing allows the management team to focus on core competencies, enabling them to concentrate on what’s really important to the business. Our team of well-experienced professionals can handle your payroll requirements whether you have just hired your first employee or have outgrown your current payroll capabilities.
How we help
In addition to the computation of employees’ pay, we also provide the following services under our payroll processing assistance:
- Set-up payroll
- Monthly processing of payslips & CPF forms
- Set up telegraphic transfer/direct debit details for payment to CPF Board
- Tax clearance obligations on foreigners ceasing employment
- Annual year-end processing Form IR8A and relevant Appendices
- Electronic filing of forms to IRAS and CPF Board
- Provision of bank files
- Claims for government reimbursements (e.g. NSMan; maternity; paternity, etc)
- Payroll advisory services
- Equity reporting and advisory services
- Tax advisory services
- Shadow payroll services
- Expatriate tax compliance and advisory services
- Payroll reviews and assistance with voluntary disclosures to IRAS and/or CPF Board
Why Grant Thornton
Drawing on the knowledge and insights of our Singapore team as well as our global network of professionals, we will work with you to deliver insightful personalised solutions that deliver tax efficiencies, ensure global compliance and manage costs.
Managing complex CPF calculations
Following complaints around their Central Provident Fund (CPF) contributions, a firm was able to reconcile eight years of payroll and come to an agreement with both the CPF Board and the ex-employees.
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