TAXcom Capital Statement

TAXcom Capital Statement is the first tax solution specially designed for Malaysian taxpayers and tax agents handing individual tax cases. The Capital Statement reveals the undisclosed sources of income of a taxpayer. The net worth should be supported by either taxable source or non-taxable source.

FeaturesBenefits
Computes capital statement.
  • Utilizes one equation [total assets – total liabilities = net worth (assets)] to calculate net worth
Records and prints reports.
  • The software allows users to record/print capital statement reports up to six years.
Automatically computes additional chargeable income.
  • The software analyzes the information provided by the taxpayer to calculate additional chargeable income.

 

TAXcom Deferred taxation

Deferred taxation is an influential aspect of the financial positions as well as financial performance of an entity. The objective of accounting of deferred taxation is to provide indications of an entity’s future tax consequences as at balance sheet date as a result of certain past events. The accounting rules for recognizing, measuring, presenting and disclosing deferred taxation are inherently complex as well as continuously undergoing major changes.

It is therefore imperative that preparers of financial statements should have sound knowledge as well as the right solutions that deliver up to date and current developments in the accounting for deferred taxation thus empowering organizations to maximize workforce potential.

TAXcom Deferred Taxation software is an automated system designed to assist companies to compute deferred taxation in accordance to Malaysian Accounting Standard Board 25 (MASB 25) and tested together with Professor Tan Liong Tong, a member of the Malaysia Institute of Certified Public Accountants (MICPA), a member of the Malaysia Institute of Accountants (MIA) and a Fellow of the Institute of Bankers Malaysia (IBBM). He served in various working committees of the Malaysia professional accountancy bodies, including being a member of the MICPA Educational Trust Funds Research Board, the MICPA Accounting and Auditing Technical Committee of the MIA and the MICPA.)

The system runs on leading industry databases such as Microsoft SQL Server. Thus it facilitates linkage with other enterprise-wide storage and offers an opportunity to integrate into mainstream business processes.

Accounting data compiled and stored enables the software to compute deferred taxation amount with ease thus turning the time consuming and complicated task simple and manageable. The user can analyses exactly which item in the company had caused the deferred taxation and at the same time it is able to produce an easy reference.

The system has been expressly designed for sharing data, work and insight. It replaces the file system with a central shared repository. It facilitates greater degrees of control and very significant efficiencies.

  • Future tax consequences on properties (using cost model, revaluation model, fair value model)
  • Freehold land, leasehold land, building claiming Industrial Building Allowance (IBA), building not claiming IBA; investment properties
  • Provisions; specific Allowance and general allowance for bad debts
  • Changing tax rate: companies qualifying for 20% income tax rate up certain limit
  • Capital allowance restriction on noncommercial vehicles
  • Hire purchase and leasing (including capital allowance restriction on car)
  • Utilisation of tax losses
  • Tax incentives and investment allowances

 

TAXcom Lite

TAXcom Lite is an innovative approach to tackle the existing problems of tax practitioners when their staff work off-site.

FeaturesBenefits
Database transfer.
  • Allows users to transfer database from the main system to laptops for off-site work. Now workers can work on taxes anywhere!
Synchronization of off-site work and main system.
  • The software for off-site work allows the off-site tax files to be easily transferred back and synchronized with the main system. This increases efficiency as users do not have to calibrate off-site work with the main system.
Strong control settings.
  • The system disables users working off-site from adding, deleting or editing modules for security purposes. This added security measure prevents tax files from being altered.
Database synchronization.
  • Each database is synchronized and logged in the server for future audit. This enables alterations to be made easily in the future.

 

TAXcom Office

TAXcom Office is in one single package which totally comes with 100 and more features and functionalities. TAXcom Office is a comprehensive tax system that is designed with day-to-day workflow in mind and user friendly. It handles tax computations for corporate and individual, automatic billing, client receivables and integrates with UBS accounting solutions.

FeaturesBenefits
Comprehensive tax system to increase revenue and reduce cost.
  • User-friendly, easy to learn and fastest way.
Increases speed.
  • Saves at least 4 hours per file for the first year and more for the subsequent years for the same tax file.
Increases accuracy.
  • The system has ZERO casting error.
Reduces cost.
  • The system can help you to increase your Gross Profit Margin by 70% and more.
Tight CMMI quality control.
  • TAXcom Office is developed under tight CMMI quality control and backed by Ygl Performance Guarantee.error.

 

TAXcom V-Guide

TAXcom V-Guide is a complete Malaysian taxation electronic textbook and dictionary comes with glossary and TAXcom user manual.

Users of TAXcom V-Guide can search any tax definition and tax treatments from this convenient downloadable software.

TAXcom V-Guide is designed to help TAXcom users, accountants, graduates and individual whom interested in Malaysian Taxation. This is because TAXcom V-Guide is a comprehensive collection of tax definition and tax treatments comes with TAXcom user manual.

TAXcom V-Guide is designed with an intelligent search engine to provide the most precise search results, allows for quick and efficient searches for glossary definition and tax treatments or TAXcom user manual.

FeaturesBenefits
Dictionary / Glossary
  • With a searchable database of terms, allows user to find tax definition and tax treatments with a single click.
User Manual
  • An intelligent search engine allows user to search for correct instructions on how to use TAXcom module easily.
Go to top