The grant can be used to subscribe to the iBiZZtax Cloud which eases tax processes in the long term.
Malaysia’s own iBiZZ Cloud Sdn Bhd has been appointed as one of the Technology Solution Providers (TSP) under the government’s Digitalisation Matching Grant, offering financial assistance to help Small Medium Enterprises (SME) in the country.
"The government’s effort pushes SMEs towards digitalisation faster. One can apply for funds up to RM5,000 and the grant can be utilised to subscribe to the iBiZZtax Cloud which will help the SMEs to smooth the tax processes in the long term,” said iBiZZ Cloud CEO Serene See.
iBiZZ Cloud is working closely with the Ministry of Finance (MOF), the Malaysia Digital Economy Corporation (MDEC) and Bank Simpanan Nasional (BSN) to help with the application and disbursement processes.
"iBiZZtax, the only cloud-based tax solution in Southeast Asia, contributes its fast growth to the advantages offered by the utilisation of Cloud technology.
"Through the digitisation initiative, Tax Agents are able to use the iBiZZtax solution while away from the office to help Small Medium Enterprises (SMEs) and tax payers to file their tax return within the stipulated time, or even earlier and for the group to use the tax return for loan or subsidy applications," See revealed.
As announced by the government to break the Covid-19 transmission chain, employees in the private and public sectors, in areas under CMCO i.e. Kuala Lumpur, Putrajaya, Selangor and Sabah are to work from home starting Thursday, 22 October. This will be the best time to subscribe to iBiZZtax Cloud to enable working from home without any disruption.
To date, iBiZZtax Cloud claims to be the only tax solution that is endorsed by Malaysia government. It is also the only cloud-based tax solution in Southeast Asia, giving this Malaysian-based brand an opportunity to expand their businesses within the region starting with Indonesia.
"We have recently started to work with BG Tax Consulting, an established tax firm from Indonesia with a few branches nationwide in developing the very first Cloud Tax Solution Indonesia via technology transfer," See added.
A joint venture company, PT Andalan Software Indonesia has also been established on 25th September 2020 to further strengthen the collaboration as part of iBiZZ’s expansion plans in the Southeast Asia region.
In addition to Singapore, Thailand and Vietnam, iBiZZ Cloud also aimed to break into the Hong Kong and China market, where the people are still using the conventional methods of tax preparation and filing which are tedious, time-consuming and less efficient.
Since its launch in August last year, iBiZZtax Cloud has enabled Tax Professionals to perform all their tax-related tasks by using devices with an Internet connection. By allowing users access from anywhere in the world without any time limitation, more than 72% of iBiZZtax offline users have shifted their tasks onto the Cloud platform which has subsequently increased their subscription by 80%.
By the end of 2020, iBiZZ Cloud aims to increase the number of subscriptions from the current 100,000 to 300,000. They are positive that by 2021, they will be able to reach more than 500,000 subscriptions.
The company plans to soft launch their new product, Robottax App by this November. This App is aimed to target the group of Salary Tax Payers by providing them the guide and better tax information to help them in tax saving.
Currently, the platform is planning to announce an Initial Public Offering (IPO) to add to their milestone. Presently, iBiZZ Cloud has attracted more than 44 investors from Malaysia, Singapore and China of which 35 of them are in fact loyal subscribers of iBiZZtax Cloud.
See welcomes more SMEs in Malaysia to reach out to them to apply for the grant and subsequently sign up for the iBiZZtax Cloud subscription to smooth the tax processes in the long term.