http://www.bernama.com/bernama/v5/newsindex.php?id=406494By Nor Baizura Basri
KUALA LUMPUR, April 24 (Bernama) -- Ever thought of ways on how to reduce your income tax?
With less than a week for the deadline to submit income tax returns, people are worried about submitting their tax forms without realising they will have to fork out more by simply sending the forms without proper details.
TaxSaya 2008, a tax software, can be the answer to all your headache.
Developed by EA-Link System Sdn Bhd, the software, obtained free from its website, will simplify the processes of filing tax returns and at the same time can identify any loophole in the process.
Managing director Trevor Keegan said a lot of people missed out by just rushing to fill in the forms and submit it within the April 30 deadline.
For the software premium version, it will have password protection and transfers assessment details directly into e-Filing. However, it comes with a RM19.90 fee for two taxpayers.
This version has a Tax Organiser which will organise related information into documents as a complete set of report beneficial for tax audit.
"Many people only focus on doing tax submissions and forget to keep records. So, rather than giving income tax officers a shoe box full of receipts, you can give them something that can make things easier for them to check," he added.
The company took about six months to complete the software and received 5,000 to 6,000 downloads and 12,000 visitors last year.
In future, the company planned to use the mechanism to support Form B (permanent residents in business), Form P (partnership) and forms for associations, he said.
Keegan however said the company needs financial support as developing the software was costly.
"We need around RM500,000 to RM1 million a year. Currently, we are supporting the operations through self-funding and revenue from our product, Brass Tax," he added.
The free software and the premium version can be downloaded via
www.taxsaya.com.
The deadline to submit income tax returns is April 30.
