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Eating Payroll Sushi with Forks – Really!

Of course you can but then would you be able to enjoy IT if it turned into some clumsy Spaghetti and that too with a spoon? Bottom line – Cutlery matters

MALAYSIA is beautiful; Malaysia is a cultural melting pot and Malaysia never loses its mystery. If you read any traveller’s account of this lovely region, you would distil the same impression whether it was a food vagabond, financial backpacker, or a business tourist raving about this intriguing bouquet sitting atop a strong spot on the APAC table.

It has to be so since this place is quite a pot-pourri, andra almost literally when you walk on and around its versatile landscape. The same rainbow meets you when you are walking wearing shoes like payroll accounting or tax management here.

Regulations of many colours and amendments of various shades have dappled this region with names like tabung haji, SOCSO, Biro, angkasa, bhumiputra deduction, Zakat, EPF, and so on. If you are a payroll manager or fiddle with the ropes of taxation nuances here, you know exactly what we mean when we call the Malaysian side of it an IT Sushi of sorts.

Do IT Fingers matter?

An old joke goes – if you can play the piano, you can handle chopsticks and vice versa.
When it comes down to appreciating the pragmatic aspects of Malaysian taxation’s territorial scope, Ramco’s team has successfully figured out how to avoid unpleasant noise . For instance, income derived from sources and income received in Malaysia from outside Malaysia is subject to tax and there are numerous such implications that can easily topple payroll accounting in this region if not blended smoothly. Paying minute attention to invisible details is something we have delivered for years.

For the region has got many fine layers that have to be reckoned well, like how almost all tax residents are only taxed on the Malaysian income but those in the business of banking, insurance, air and shipping business are not. It is hence, very easy for din to clatter all over where a song was supposed to float effortlessly. Just one detail missed, or one compliance aspect out of rhythm and the whole payroll taxation management piano can start screeching like an unbearable lawn mower.

Consider this. From being perched at the 40th place in 2013, Malaysia has jumped to the 15th rank in TMF Group’s Global Benchmark Complexity Index for 2014 . This research incidentally attributes local legal systems too as a key driver in the complexity of regulatory environments. Indonesia and Thailand came up in the top 10 radar here and that hints a lot on the way APAC scenario is shifting.
Let’s hear one small stanza of how Ramco accomplishes the tough feat of tackling complexity with an artist’s panache through its M-U-S-I-C-A-L philosophy.

Bring Your Own Plate

From Intel Penang in Malaysia to names like Avago technologies, Agilent technologies, Aban Offshore, BATM, BMS, Carsem, Emerson Subang, KFHAM, KFHMB, PAMB, PLUS, PwC, Seagate , SDV, Texas, Tyco, UEM, Verigy and an ever growing list of names reinforce the fact that Ramco can serve plates of all sizes and bowls of all shapes.

No matter what specific modifier or legal aspect that a particular industry has to take into account, Ramco Payroll for Malaysia has ensured that when it comes to different elements, rules, pages, processes, and reports; an organisation’s payroll function experiences the perfect recipe instead of chaos and spilled sauces.

In fact, the core Ramco Payroll software bakes in everything smoothly to form a complete payroll package for Malaysia and it’s a batter without lumps whether one has to define earnings (like the base salary, contractual bonus, and festive advance) or one has to reckon deductions ( read - festive advance repayments, and Zakat contributions). From generating payslips, processing banking, and dishing out reports, such as Inland Revenue Board (IRB) reports; this solution has been whipping up everything with smooth strokes.

Some recipes are not easy but quite delicious when you know how to eat them right.

Ironically, the people who know the beauty of a well-tailored instrument to tackle this IT plate well are the ones who have been eating this Sushi with the wrong tongs so far. So, have you?