Pocketing Series A Funding, Taxind Presents Tax Applications for the Retail and Corporate Segments

Indonesia has a jumbo economic value with a rapidly growing middle class. This presents significant opportunities for tax solutions platforms online to provide value for taxpayers and businesses by simplifying the tax compliance process. With the emergence of technology and increasing adoption of online platforms, the potential for this solution to have a significant impact on Indonesia's tax system is enormous.

One platform that tries to make it easier for taxpayers to fulfill their tax obligations and obtain their rights with a touch of technology is Taxind. To DailySocial.id, Taxind Co-Founder & CEO Muhammad Arif Rohman Said Putra revealed the business plan after obtaining funding and the targets the company wants to achieve this year.

One-stop solution for taxpayers

Taxind was founded by Muhammad Arif Rohman Said Putra (CEO) and Sony Surya Wijaya (CTO). One of the main advantages of the tax solutions platform online is, its ability to streamline the tax filing process. By automating many of the time-consuming and processes associated with filing taxes, platforms like Taxind can save both taxpayers and businesses time and resources. This can lead to increased productivity and efficiency, allowing individuals and organizations to focus on their core business activities.

Arif himself previously had a career at the Directorate General of Taxes for more than 13 years. The hope is that with the experience and background of its founder, the features presented by Taxind can be a solution to tax problems faced by the public and taxpayers.

In particular, Taxind has features that can help the public or taxpayers understand and fulfill their tax obligations. Starting from the latest tax news, simulations for calculating income tax (PPh) article 21 and import tax, Update exchange rate every week according to PMK, manufacturing e-billing to pay taxes, consultations online through chat nor video call with experienced tax consultants, to the 'Cash Record' feature to assist MSMEs in preparing financial reports.

Taxpayers can also use offline consultation and assistance services with certified tax consultants. Some of the cases that have been handled include, assistance during initial evidence examination (bukper), assistance with objections, making TP Doc, tax clearance, assistance with examinations, assistance in the context of restitution, and others. Currently, the largest age range of users of the Taxind platform is 21-35 years old and spread throughout Indonesia.

"For monetization strategies, we group them into two, namely retail (individuals) and corporations (corporate taxpayers) by selling consultation packages, making NPWPs, checking the validity of NPWPs, checking making unit and bulk billing and paying taxes. "Especially for corporations, we sell customization services for company financial and accounting systems integrated directly with their tax obligations," said Arif.

Throughout its journey, Taxind has collaborated with various partners in the financial sector such as Bank Syariah Indonesia (BSI) and Bank Rakyat Indonesia (BRI). Taxind has also established a strategic partnership with the Directorate General of Taxes.

"Currently Taxind is also holding discussions with several parties in the financial technology sector, such as Pluang "as well as with MSMEs such as the Ministry of Cooperatives and SMEs, PadiUMKM and also SMEsHub Indonesia, to make it easier for MSMEs to prepare financial reports and fulfill their tax obligations in order to encourage MSMEs to move up in class," said Arif.

Pocket Series A . funding

Taxind recently completed series A funding. It was not stated who the investors involved were and how much investment was received. However, the company plans to use these fresh funds to develop features and services, so that it can meet the needs of taxpayers, thereby increasing traction and also enlarging the Taxind ecosystem. Prior to series A funding, Taxind had been running a business on an ongoing basis bootstrap.

Features that will be launched in the near future include NPWP registration and Taxpayer Identification Number (NPWP) verification. Meanwhile, the features that are currently in the development stage are sales e-stamp, Host to Host E-Bukpot, Host to Host Efaktur, and also customization systems for corporations.

"We will also use this funding to expand customized system for corporations and we will also start expanding to customs services. This year the company also has a target of having around one million users and not only getting profits revenue. We will focus more on continuing to improve corporate users," said Arif.

Alasan venture capital interested in investing on a tax platform online in Indonesia is, because of the current economic growth in Indonesia. Additionally these platforms are usually designed to be easy to use and require little or no human interaction, meaning they can scale quickly and easily. This becomes attractive to investors looking for companies with high growth potential.

One of the successful online tax platforms in Indonesia is OnlineTax. Founded in 2015, OnlinePajak has quickly become one of the popular tax platforms, and has more than 1,5 million users. The company has also attracted the attention of venture capitalists, including SoftBank Ventures Asia and Sequoia India.

Another online tax platform that has caught the attention of VCs is Tax.io. Founded in 2017, Tax.io offers a variety of tax services for small business owners and entrepreneurs. The company has raised more than $3 million in funding from investors such as Alpha JWC Ventures and Skystar Capital.