Togo is an African nation whose capital city is Lomé. The Lomè Grand Market near the Lomè Cathedral is one of the notable landmarks in the country. If you want to open a new company location in Togo, you have a lot to look forward to, but you also need to look at your payroll.
Setting up your Togo payroll will be one of your first steps after establishing a subsidiary. You need a payroll to hire employees and pay them, but you may not understand the country’s tax regulations enough to stay compliant. That’s where Globalization Partners can help. We offer Togo payroll outsourcing services to companies wishing to expand without the hassle of setting up a subsidiary or maintaining compliance.
Taxation Rules for Your Payroll
Companies in Togo have to pay a standard tax rate of 29%. Employers also need to contribute 17.5% of employees’ monthly gross salary to social security. Keep in mind that all registered entities have to register for taxes with the Togolese Tax Authority and file annual returns each year by March 31.
Your Togo Payroll Options
You can use one of several Togo payroll options to pay employees, including:
- Internal: You can use an internal payroll to pay employees as long as you have the staff and resources to do so. This option requires a full HR staff and an expert who can make sure you stay compliant.
- Remote: A remote payroll will be run through your parent company and include employees from all over the world. You can add your subsidiary’s employees to this payroll, but you’ll need to follow the right regulations for each country.
- Togo payroll processing company: A third-party Togo payroll processing company will help you outsource your payroll. However, your company will still need to worry about compliance.
- Togo payroll outsourcing: Choosing Togo payroll outsourcing with a global PEO such as Globalization Partners will keep you compliant and save you time. We can add your employees to our already compliant payroll and help you start working quickly.
Requirements to Set up Payroll in Togo
If you expand on your own, you’ll have to set up your own subsidiary before choosing a Togo payroll option. By the time you complete all aspects of the incorporation process, it could be months from when you started. We know how important it is to start working quickly, which is why we’ll let you use our Togo PEO to expand. When you choose us, you can start work in the country in a day or two, and you won’t need to worry about compliance.
Necessary Entitlement and Termination Terms
You should always include entitlement and termination terms in your employment contract before setting up your payroll to make sure both parties are on the same page. Termination can happen by the will of either of the parties in this country as long as the party gives notice. All dismissals need to be confirmed in writing within eight days.
Work With Globalization Partners
Globalization Partners has experience helping companies expand across the globe. Contact us today to learn more about Togo payroll outsourcing.