Colombian salary types and how they effect payroll

January 30, 2019 | Yana Todorova 5 mins read

Colombia’s economy is South America’s third largest behind Brazil and Argentina and one of the most attractive in the continent for foreign investment. However there are some challenges when it comes to starting a business in the country, more specifically when paying your employees. 

The payroll laws in Colombia are complex and confusing, especially for those who are unfamiliar with the culture, which is why having the local knowledge about payroll is a necessity for setting up a successful business in the country. 

This infographic prepared by our Latin American payroll partner J.A. Del Rio shows a comparative of the payroll effects between the ordinary and integral salaries in Colombia from a Global Payroll prospective.  

To learn more about the payroll in Colombia and Payslip’s international payroll services contact us today!

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Using Payslip, we can manage all our payrolls across nine in-country vendors on one platform. When the global Covid-19 pandemic arose, it was not an issue from a payroll perspective, and critically getting everyone paid. The Payslip platform enabled continuity for our international payroll service including the fast and seamless implementation of the Payslip Employment Self Service during this time.

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With business and employee growth rates of above 50%, we rely on our vendors to deliver on time, every time. Payslip’s workflow automation, enables Phorest to manage our payroll provider process – data driven, real time and transparent. Payslip saves us time so we can focus on our business growth.

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International Payroll Manager, Phorest