Five areas of international payroll you need to understand

five areas of international payroll to understand

Irrespective of where in the world it's done, payroll is the process and system by which a company pays its employees, pay period in and pay period out. It involves keeping employee financial records, calculating their paycheck taking wages, taxes, tax credits, allowances, and benefits-in-kind into consideration, and issuing those paychecks. Regardless of where the company or its employees are based, every employee must receive the accurate pay (and payslip) with all withholdings and deductions submitted to the local tax authorities. Here is what you need to understand about international payroll