iBiZZ Cloud Sdn. Bhd., a cloud-based taxation system, 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 Malaysia.
The company 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.
“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 Serene See, Chief Executive Officer.
iBiZZtax, the tax software’s application, allows tax agents to use the solution while away from the office. This will be helpful for 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.
Being the only cloud-based tax solution in Southeast Asia, this Malaysian-based brand has ventured into Indonesia, Singapore, Thailand, and Vietnam.
iBiZZ Cloud aims to break into the Hong Kong and China market, where citizens are still using the conventional methods of tax preparation and filing which are tedious, time-consuming, and less efficient.
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.
On a separate note, the company plans to soft launch its 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.
The platform is also 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 loyal subscribers of iBiZZtax Cloud.