Registration Time: 09:45
Sessions Time: 10:00 - 12:00
Speaker: Mr Jonathan Mifsud
Venue: Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €55.00
Non-MIA Members: €100.00
Retired Members: €25.00
Students: €40.00

Background Information

Payroll, can be made up of more than just basic pay. Fringe benefits, both taxable and non-taxable can play a key part in a salary package.
Understanding Fringe Benefits, is critical for accountants, HR Managers and business owners.

To ensure that salary packages are tax-efficient and are also reflecting the real value being provided to the employee.

Within the first of these sessions we will delve into various fringe benefit options, and go into how they are calculated and any related tax implications.
This session will also cover the basic taxation and calculation with and without various fringe benefits will be showcased to better understand the difference.
The second session, will build on the first. Taking payroll data and fringe benefits paid, we will then get into the most common reports used within payroll along with their scopes.

Within this second session, we will go over the Final Settlement System (FSS) and the related reports. Namely: the FS3s issued yearly to each employee; the FS5 issued monthly and the FS7. The online submission formats for FSS and Social Security Contributions will also be covered.

During the session we will also highlight common problems when filing online submissions arising due to rounding. Hence we will also explain the correct equations for tax reporting purposes.

Topics on the agenda

Short introduction to payroll basics
Understand what are Fringe Benefits
The Difference between taxable and non-taxable benefits
The various tax rates and limits available for fringe benefits
How to calculate Payroll Tax
Common Payroll Reports
Statutory Reporting Requirements (FS3/FS5/FS7)
The FSS Online Submission

Objectives of the sessions

To understand the intricacies of payroll, when salaries are made up of more than simply a basic salary.
To understand the statutory reporting requirements that exist for Maltese entities.

SPEAKER'S PROFILE

Jonathan Mifsud, CTO at Buddy - The Revolutionary Payroll Companion. In 2016, Buddy brought in Jonathan to help simplify payroll. During this time, he learnt the ins and outs of payroll so business owners won’t have to. He holds a Master’s degree in Intelligent Computer Systems from the University of Malta and has been involved in the tech space for over 9 years. Thanks to his expertise, Buddy’s cloud-based payroll software has already saved accountants and businesses hundreds of hours in administrative tasks.

Target Audience

CFOs, Accountants, Payroll teams and Business Owners

EVENT CPE COMPETENCES

3 Hours Professional

Webinars TERMS AND CONDITIONS

Terms and conditions  apply

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