Making income tax calculations less taxing

  • TECH
  • Tuesday, 29 Mar 2011

Taxsaya 2

KUALA LUMPUR: It is that time of year when everyone starts cracking their heads over income tax calculations and submitting their tax returns to the Inland Revenue Board (IRB).

Over the past year or two the IRB has made it relatively easier for taxpayers to submit their forms, which can now be done electronically over the Internet by many people.

However, solutions vendor EA Link System Sdn Bhd believes it has a software product that will make it less taxing for people to wade through the jargon on the IRB forms, easily calculate how much they owe the taxmen, and to quickly file their tax returns, all without having to reach for aspirin.

The software — Taxsaya — is designed with laymen in mind and provides taxpayers with a step-by-step guide through the whole process, announced the vendor.

EA Link System managing director Trevor Keegan said anyone can easily master the process, regardless of the language they speak or the level of their knowledge on income tax. Taxsaya has Bahasa Malaysia, English and Chinese versions.

“Our solution uses simple terms so as not to confuse taxpayers. There is no jargon,” he said at a media briefing organised by Microsoft Malaysia to introduce the product.

The taxpayer only needs to replicate the information listed in his or her EA Form into the relevant fields in Taxsaya. The software then prosesses the software into the relevant format required by the IRB, and shows the taxpayer the amount of tax he or she owes.

Added service

Taxsaya also goes a step further. It can show the taxpayer where he or she can save on tax, such as highlighting tax-deductable expenses. These include life insurance policies, as well as money spent on books and computers.

“The software will draw attention to those areas that contain tax-deductable items, which taxpayers may not be aware of,” Keegan explained.

After that, the taxpayers can copy the data from the Taxsaya generated form to their electronic BE Form on the IRB website, or print out the Taxsaya form and include it with their tax return if they are filing over a counter.

According to Keegan, EA Link is working on getting Taxsaya integrated with the IRB’s electronic filing service. Once that happens, users will be able to safely transfer their tax preparations into the IRB e-Filing system without retyping.

He explained that the IRB system requires taxpayers to know where the various figures need to go from EA Form to BE Form. Taxsaya does this automatically; a taxpayer only needs to replicate his or her EA Form in the software.

The Taxsaya service is available at Users will be charged RM19.90 per tax period.

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