Delivering efficiencies, ensuring compliance
BDO understand the complexities, resources and expertise required to deliver a payroll service in the Latvia and internationally, on time, every time.
It isn’t easy to achieve a quality payroll. Variations in the rules, regulations, and the need to maintain personal information, mean that companies need a reliable business team to support them. By partnering with BDO, you can be sure of a consistent, high quality payroll service ensuring compliance and attention to detail at all times
Whether you are a small business looking to take on your first employees or a larger, global organisation looking to outsource your payroll service, we are able to assist.
Our professionals can calculate the payroll and corresponding taxes and social contributions, and prepare and submit the statutory reports to the state authorities.
We can tailor a service to deliver just one or all of the following functions:
- Net pay calculation: based on data exported from your core systems in a format that suits you
- Tax liability calculation: computing the tax and other deductions due from both the employee and employer
- Sickness and Holiday: calculating payments and keeping local records
- Payments: delivering net pay to employees and payments to other third parties via trust accounts
- Payslip production and distribution: electronic or paper based delivery of information direct to the individual or via your systems
- Change control: payment and employee change management with an inbuilt audit trail and authorization procedure for joiners, leavers and changes in pay, allowances and tax liabilities
- Resilience: in the event of a physical or systems disaster in any part of the payroll process, we have business continuity and disaster recovery plans ready to activate minimizing the impact on your staff
- Expert in-country advice: reassurance that any processes and central controls will meet internal and external audit requirements and local regulations