Whether you are a company or self-employed, if you employ individuals you are required to keep records of sums paid as salaries, allowances, bonuses as well as all related deductions of Social Security Contribution (SSC) / National Insurance (NI), and taxes. This is a statutory requirement for all employees from the date of commencement up to the date of termination.

Fairwinds Management Limited can handle all your payroll requirements. Outsourcing to us is easy and will put your mind at rest. As part of our services, we are also able to apply for your Permission to Employ number (PE number) which is the registration by an individual or a company to employ individuals) and handle all necessary paperwork for engaging new employees and terminating them with Jobsplus, Malta’s Public Employment Service Agency.

Our payroll services in Malta are handled according to the local legislation in terms of entitlements, benefits, and others, such as calculations for working hours, breaks, overtime, annual leave, sick leave, notice periods, NI calculations and so on. On a monthly basis the FS5 form must be submitted to the Commissioner for Revenue (CfR) for the declaration and payment of the tax, SSC/NI and, maternity leave trust fund contributions. Furthermore, we can also handle all year-end statutory reporting such as the annual Statement of Earnings (FS3) of all employees, issued individually to them showing the yearly gross salary, taxes and social security payments, and the Annual Reconciliation Statement (FS7) which shows the monthly taxes, social security contributions and maternity leave trust fund contributions due and the payments made to the Department. The submissions of the documents FS3 and FS7 must be done by the 15th of February of the following year.

Our team at Fairwinds Management Limited can assist you with all outsourced payroll services in Malta, whilst complying with local legislation and maintaining your personnel’s data confidentiality.

Watch our informative video about Payroll Obligation in Malta here.

Accountant Malta