Payroll in Spain involves various formalities and procedures that can be used to calculate and deliver salaries in a company. In this approach, Spanish payroll taxes will be taken into account, according to the legislation in force. We invite you to read in the following lines some information about payroll in Spain, with the mention that you can talk to one of our company formation agents in Spain whenever you are interested.
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What do payroll services in Spain entail?
A payroll specialist in Spain deals with the calculation and distribution of salaries in a company, taking into account both external and internal rules. Let’s review some of the formalities:
- Spanish payroll taxes will be considered when calculating salaries. Thus, social contributions are paid by both the employee and the employer.
- Payslips will be drawn up for each employee, i.e. documents that provide information about social contributions and salary received, among others.
- Once the company‘s managers, together with the financial-accounting department, have given their consent on the payslips, the salaries are distributed to the employees’ accounts. We are here to tell you more about payroll in Spain.
- In Spain, the salary is a little different compared to other countries in the European Union because, in addition to the 12 mandatory monthly salaries for employees, there are also bonuses granted in July and December, which add up to a whole salary. But everything depends on the arrangement between the worker and the company, with the mention that such aspects must be stipulated in the employment contract.
If you are interested in a team of accountants in Spain for the outsourcing of services of this kind, we recommend that you contact our company. Get in touch with us for more about payroll in Spain.
Salaries in Spain
According to the latest data and the changes to the law brought in 2023, the minimum wage in Spain is EUR 1,080 per month. Here is other interesting information about salaries in Spain:
- Temporary workers can earn between EUR 47.36 and EUR 51.15 per day.
- The increase in the minimum wage in Spain does not apply to all categories of workers in this country. Those who benefit from this are the workers who are not protected by the collective bargaining agreement in Spain.
- Around EUR 29,994 is the mean annual earnings for a full-time worker in this country.
- The maximum salary of a worker in the services sector in Spain is around EUR 1,610 per month.
- An IT director can earn around EUR 48,000 per year, while a sales manager can receive an annual salary of about EUR 58,880.
- There is a gender pay gap in Spain, which ranks the country 6th in the top 20 made by the World Economic Forum. As such, while men earn around EUR 28,127 per year, women earn approximately EUR 25,243.
How can a payroll specialist help you in Spain?
If you want to set up a company in Spain, you can benefit from the services offered by our local agents, including payroll in Spain. They can take care of the incorporation formalities as well as the collaboration with the relevant authorities in the matter of submission of documents. On the other hand, you also need payroll services in Spain to be able to align with the requirements in the field of accounting. A payroll specialist in Spain uses dedicated platforms for calculating and distributing salaries in a company. Also, he/she knows what Spanish payroll taxes are, respectively the contributions that must be paid to the state, both by the employee and by the employer.
You can thus ensure complete services for the company owned in Spain, respecting the legislation of this country. In addition, the payroll services in Spain offered by our company are at advantageous prices. Contact our Spanish firm for more on this endeavor. We can also help you if you want to open a company in Spain.