MJ Blogs

Workday is a very popular Human Capital Management Software but they do not have good Payroll Processing Capabilities which is the final outcome of a Human Capital Software. To address this, they have given a good interface i.e. PECI Interface i.e. (Payroll Effective Change Interface). It is latest interface version given by Workday for integrating Human Capital Software with a Payroll and Statutory Compliance Software for calculating organisation tax compliance and Employee Salary. In this article, let us discuss the strengths and weakness of Workday interface and how organisations can overcome that. Strengths: This workday interface extract all the transactions in XML format which is very easy to analyse and study for any potential error or gap. It works on Pay Group ID logic where data is interfaced as per pay group id mapped to employees. With each transaction, Workday PECI use 'Update' or 'Added' Flag so Payroll vendor can easily identify the tran...

Cyprus Taxation: Tax Law Exemptions for Expatriates in the Country Social Security Contributions National Health Contributions Tax Reporting and Social Security Reporting Tax Law Taxable Income From Taxable Income To Tax Rate (%) Cumulative Tax (Amount) 0 19,500 0 - 19,500 28,000 20 - 28,000 36,300 25 1,700 36,300 60,000 30 3,775 60,000+ 35 10,885 Above tax rate table is applied for calculating tax of a Cypriot. Foreign payments are taxed at the rate of 5%. An annual exemption of Euro 3,420 is granted. The taxpayer has the option to elect to be taxed at the normal personal tax rates as set out above. This is a choice which can be made year-on-year basis. Cyprus source widow( er )’s pension is taxed at flat rate of 20 % on amounts over Euro 19,500 or the taxpayer can elect to be taxed at the personal  tax ra...