Paraguay has a population of over 7 million people. Thriving industries include agriculture, manufacturing, and energy. Paraguay offers a variety of company formations, and with a tax rate of 10%, it is attractive for companies looking to expand.
Labor and Payroll Considerations in Paraguay:
- Employment contracts can be written or oral
- The minimum wage is 2,200,000 PYG per month ($333 USD)
- Income tax and social security are withheld from employee pay
- Employers must contribute to social security
- Foreign workers need a work authorization for employment lasting longer than 90 days
Getting started or simplifying operations in Paraguay can be challenging but Blue Marble can help. Our cloud-based payroll technology with customized reporting gives you real-time access to your payroll across all countries and currencies. We have a hybrid service model with a dedicated US-based team and direct access to in-country experts when questions come up. Talk to us about easy-to-use payroll solutions in Paraguay.