With only RM100 per GST report generated or RM100 monthly, SmartTax is already 70% cheaper than a traditional desktop tax agent. That’s huge savings for SMEs. It can’t get any cheaper than that we figured. In early August, we’ve gathered all the feedbacks from our stakeholders and users about the value of SmartTax. It turns out that users perceived the monthly subscriptions for Xero and SmartTax are a little steep for the average businesses in Malaysia. Based on those inputs, we realised that our product is more valuable to SMEs should the price be lower. This is to create a lower barrier of entry for businesses to adopt an efficient cloud accounting system.
What makes SmartTax solution so simple?
Apparently most tax agents and accountants in Malaysia are doing repetitive work for their client’s GST submission. With Xero and SmartTax, you can now automate all the data entry and clerical work. It also saves precious time and money.
In order for a cloud based GST solution to churn out a report, it must pull relevant data from a source. That source will be your accounting software and in our case it’s Xero.
Firstly, mapping needs to be done. Mapping means you need to connect the right information from Xero to SmartTax. The process is to ensure that SmartTax recognises the correct data to sync from Xero. Once synced, SmartTax will then help to generate your GST-03 form in PDF (Kastam ready), GAF (for audit purposes) and TAP file (softcopy to be uploaded into Kastam TAP Portal).
You can choose to do your mapping from either SmartTax or Xero and vice versa. This is a one-time process. From that point onwards, you’ll be able to generate your report in just a few clicks. It’s that straightforward.
Albeit we’ve fulfilled all regulatory requirements, we feel our solution needs to be more invaluable to the stakeholders i.e accountants, bookkeepers, auditors, Kastams and business owners.
What other features can we add?
We took our user’s insights very seriously. So we gather our intel by scouring through our customer support emails, in-app chat box, feedback by Kastam and also real-world problems faced by our users.
The entire team unanimously decided that for now until further notice, we will open our system for ALMOST free. Well, technically speaking our backend doesn’t allow us to enter ‘0’ as a value in the pricing module. So, the next best thing is to put the price up for only ‘Seringgit’. That’s RM1 (approximately USD 0.25) for those who don’t speak Malay. It’s as good as free.
Below are the items in our product development pipeline. The reason we put this plan up for public scrutiny is for us to be more accountable and be more motivated to come out with the most reliable cloud based solution with reasonable pricing.
Here are some features that we are excited to add:
Our estimated time of completion for these upgrades may well stretch until early next year. Until then, you have the opportunity to experience a simpler, smarter GST reporting solution for only a ringgit. This is great since the next GST cycle is just around the corner which is at the end of October. Our next round of pricing will be way more affordable from what we had previously. That’s a guarantee!
We will keep you updated from time to time through our social media channels or our newsletters for those who subscribed. Now, experience an almost FREE, simpler and smarter GST reporting made for Malaysia by signing up here. Drop a line here if you have any suggestions or ideas to improve this little system.