Why SMEs are more at risk with payroll in Malaysia?

The risk of not using a digital platform for payroll prevents the business from staying updated with new legislation, safeguarding the company's confidential data, and experiencing more computation errors. The fact that laws are constantly changing adds additional stress to SMEs.

Penalties resulting from improper reporting to the inland revenue board are the biggest threat to SME payroll. If inaccurate information is submitted negligently, the taxpayer is liable to a fine of up to RM 10,000 or 200% of the undercharged tax.

 

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