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!