The most convenient way to pay salaries
- Payments are made and the declaration (TSD) is filled in simultaneously
- The declaration is confirmed automatically
- Salary payment is free of charge
What is a Salary Payment?
It is an innovative payment solution, set up in cooperation between LHV and the Tax and Customs Board, mainly for small and medium-sized enterprises, that enables the enterprises to pay out salaries to their employees and declare state taxes in a single channel – The LHV Internet Bank.
Salary payment can be used for 6 of the most common payment types: salary, dividend payment, Management Board member’s fee, sick pay, remuneration based on a contract under the law of obligations, and the minimum social tax obligation. In order to make the payments, the representative of the company must have authorised access to the e-Tax environment (Accountant’s package) and full authorisation (100%) to approve payments in the LHV Internet Bank.
How to make a Salary Payment?
Enter the Internet Bank
Go to your company’s account and start a new Salary Payment.
Select a suitable payment basis and enter the recipient’s details.
Accounting of payment obligation
Data is sent to the Tax and Customs Board in real time, where the tax amount to be paid is calculated.
Make the payment
Payments are made and tax details are added to the declaration simultaneously.
The declaration is confirmed automatically.
Payments can be saved, so that future Salary Payments could be made with a single approval.