TAX OPTIMISED PACKAGE STRUCTURING TOOLS FOR MULTINATIONAL GROUPS

Remunerations Consultants has over 70 professionals, including Remuneration Specialists, Tax Attorneys and Chartered Accountants, offering a holistic tax and compliance service for multinational groups. We stand apart from other service providers by adding a robust tax and legal layer to optimise employee benefits and mitigate tax exposure, whilst ensuring you remain fully compliant with labour law. This approach has made us the preferred partner to multinational groups functioning in South Africa, as well into the rest of Africa.

Learn More

First Port Of Call – Conduct A Payroll Integrity Audit

Engagements typically start with an initial technical meeting to discuss challenges faced and areas of concern from a payroll perspective. We then outline the steps to conduct a successful payroll integrity audit to assess payroll accuracy. This is extremely important to ensure compliance with relevant tax legislation and other Statutory Laws. We have in-depth experience on all items relating to employee payroll and we are comfortable that there are no areas of payroll which are too complex to cover. A typical payroll audit includes the following:

Verifying that personnel documentation has been compiled in line with Labour law requirements

Review of concluded agreements with employees

Assessment of the payroll calculation and records for each individual employee

Identification of discrepancies and potential areas of risk from a tax and policy perspective

Specifying corrective actions, designing best practices in terms of contract templates, contract amendments, internal employment and remuneration policy.

The Final Solution – A Fully-Customised Package Structuring Tool

Once the payroll integrity audit is complete, we will present our findings and build a tax optimised package structuring tool (PST) to address your payroll needs. Our PST solution will enable you to use dummy payslip with full tax calculation to remain compliant year-on-year with tax update changes. The tool can be used to make offers, communicate offers and increases and check payroll on a continuous basis. It will promote an internal understanding of the company’s remuneration design, which will support future business decisions and will ultimately form the cornerstone for building the remuneration function.