Payroll Fees

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CYPRUS COMPANY PAYROLL SERVICES

The cost of our work will depend on the nature, volume and complexity of your employees remuneration and time spend on your affairs. Our fees vary depending on the number of employees you have for processing.

Employee Number	Set Up Cost - one-off fee €	Monthly Payroll Cost - Monthly Fee €	Preparation of TD.7 (IR.7) €
<5	Same as monthly payroll fee	200 + VAT	250
<15	Same as monthly payroll fee	450 + VAT	350
<30	Same as monthly payroll fee	750 + VAT	600
<50	Same as monthly payroll fee	1000 + VAT	900
<100	Same as monthly payroll fee	1800 + VAT	2000
>100	Same as monthly payroll fee	15 + VAT per employee	18 + VAT per employee

<5 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€200 + VAT

TD.7 (IR.7):

€250

<15 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€450 + VAT

TD.7 (IR.7):

€350

<30 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€750 + VAT

TD.7 (IR.7):

€600

<50 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€1000 + VAT

TD.7 (IR.7):

€900

<100 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€1800 + VAT

TD.7 (IR.7):

€2000

>100 Employees

Set Up Cost:

Same as monthly

Monthly Cost:

€15 + VAT
per employee

TD.7 (IR.7):

€18 + VAT
per employee

The above fees do not include:

Service	€
Registering the Company with Social Insurance Office	150
Registering Employee with Social Insurance (obtaining S.I.C)	150
Obtaining a Tax Identification Number (new employees)	150
Deregistering employees from Social Security	75
Registration as a Foreign Employer with the social securities	450
Registration of the Foreign Employer with the tax	450
Registration of the individual as self-employed	225
Objection to the social insurance office for self-employed	225
Execution of monthly salary payments	75
Payroll set-up (one-off)	same as monthly fees

The above fees include:

Interface payroll entries to Company's accounting software.
Monthly payment of Social Insurance Contributions and P.A.Y.E taxes.
Distribution of payslips on a monthly basis.
Creation of emoluments certificate (IR63) on an annual basis
Creation of payslips on a monthly basis
Ad Hoc Assistance on Payroll matters
Advisory on Payroll matters

Assumptions:

There are no hourly employees
All employees are paid on a monthly basis
Employees remuneration is based on a fixed salary
Some employees earn bonuses
We will be provided with the IR59 for the year
The Company has low staff turnover (less than 10% employees in a year leave employment)
Payroll figures will be provided to us by the 15th of the month

Benefits in kind:

This price list assumes that less than 5% of employees have benefits in kind.

If the number of employees with benefits in kind exceed this amount an additional charge of Euro 200 per employee, per annum will be incurred to cover additional cost incurred in calculations and special tax treatments during the year and at the year end.

Note: Benefits in kind carry significant tax calculations and correspondence with the employees and employer and as a result, additional charges accrue as specialist knowledge is required.

Complimentary Services

Services offered Directly by Mr. Tramountanellis:
Advisory Services on Tax & VAT Related matters Non-Payroll Related.
Services offered by our Experienced Accounting Team:
Advisory Services on Payroll matters, monthly basis
Ad Hoc Assistance on Accounting matters
Back Office Support on Accounting matters

Specialized Work Performed:

Specialized work required by CYAUSE Audit Services Ltd such as tax advisory, audit and other advisory services will be considered as a different engagement and will be priced differently, subject to the complexity and volume of work involved.

We will inform you in advance if such work bears additional charges which will be pre-agreed between us before we commence work.