What is a Payroll Service?
A payroll service allows you to efficiently manage the employee payroll and human resources of your business in Qatar. Managing the payroll of your business can be a complex task as it requires you as the owner to employee HR staff which increases the cost or handle all the activities by the existing team, to hire, calculate pay after taxes, and much more. This causes distraction from the task at hand and reduces your focus on the core business activities.
The basic payroll service will take responsibilities of collecting wage information, calculate gross wages or salaries, subtract all the appropriate withholding & deductions, print checks, make direct deposits, prepare all employment tax filings and pay for corporate employee insurance in Qatar. In addition to this, payroll services offer comprehensive assistance to the business by taking over responsibilities of
- Time and attendance of employees
- Handling the internal human resources
- Administering a company’s employee accounts
- Maintaining the company’s benefit programs
- Creating a timetable for shift-based operations
- Hiring international workers
- Resolving employee issues with visa and immigration
- Help the business to comply with any court-ordered wage garnishment programs
- Offer 24/7 assistance for HR related issues
Why do you need a Payroll Service?
Payroll is an essential part of your business. By hiring a professional payroll service you can reduce your costs by eliminating the need of employing specialised personnel for handling complicated and time-consuming such as payroll processing, administration and managing human resources. In addition to this, it offers flexibility to the employer in hiring and managing workers from different locations while managing the complex payroll rules according to the local laws and employee compliances. This improves the employer-employee relations, enhances employee motivation to work better and efficiently organises all your activities.
Small-businesses and SME’s in Qatar can benefit from the outsourcing the payroll functions which adhere to the Qatari government’s compliances and shall include tasks ranging from determining employee wages, withholding taxes, to updating vacation, sick pay and deducting payments for employee benefits such as housing, health insurance and travel allowance.
Advantages of Outsourcing your Payroll Service
- The most significant advantage of a payroll service is that it takes all payroll responsibilities away from the business owner, allowing him to focus on other aspects of running the business
- Outsourcing reduces the overhead costs involved in hiring payroll manager and accountant
- Enhanced accuracy in calculating benefits and ensure that your employees are paid promptly in time
- Mitigates the risk of penalties for not reporting accurate & timely information to respective authorities
- Guarantees that the government compliances are followed according to the legislation
- Dramatically reduces the error and mistakes in calculating wages and deductions
- Allows your business to access a wide variety of services including HR, administration and accounting
- Gives you the freedom to hire workers and employees from a different region as the service handles the calculation of wages and salaries according to the country of operation
- Advanced security for your employee data by protecting it from data theft, identity theft, and fraud
- Prevents embezzlement of funds, tampering of companies logs or files for personal benefit by in-house employees
- Helps you stay organised and efficient in managing your employees
Why set up your Business in Qatar?
Qatar is a significant player in the Middle East with the most prosperous economy, an independent foreign policy that encourages trade & commerce, world-class infrastructure, robust banking environment and effective legal system. Currently, the government of Qatar is focused on encouraging foreign investors to invest in Qatar by allowing them to start their business in the country with 100 percent foreign ownership. This move has attracted investors internationally, who are keen on starting their business in the Middle East.
The gradual economic transition of Qatar's economy from hydrocarbon-based to a non-hydrocarbon has shown enormous economic growth in the business sectors of Qatar in 2019 thorough significant development in the industries such as manufacturing, construction, finance and insurance. This transition has played a decisive role in the country’s growth in the recent years as theeconomic diversification projects in the State of Qatar that focuses on improving the business environment for non-oil companies to continue to grow, develop and expand in the nation with support given for priority business activities which align with the developmental strategies of the government. Taken together, investment, spending and population growth have boosted domestic demand and growth in the non-hydrocarbon sector allowing the economy to diversify away from oil and gas steadily.
Looking into the future, Qatar stands as an excellent place for starting your business in non-oil sectors in the Middle East region by granting exceptional infrastructure, business-friendly policies, and favourable trade policies assisting the companies to maintain a competitive edge in the global market. If you're are interested in starting your business in the State of Qatar, contact us. Our expert team in Qatar will be happy to guide you in the process and provide you with all the information necessary. You can even ping for friendly advice, no consulting charges.