My Tax Buddy / Ahmad Nor Ariff Masazhar ... [et al.]

The current tax filing in Malaysia is based on the concept of Pay, Self-Assess, and File. With the current concept, many taxpayers face the issues of declaring accurate purchases amount from previous year that provide tax reliefs. In addition, the taxpayers need to keep the proof of purchases for tax audit purposes. These become major problems for most taxpayers as they usually forget to keep proper records on their purchases. In addition, some taxpayers are not aware of the latest updates on the tax reliefs, making them unable to fully utilize their tax reliefs based on their eligibility. Hence, to solve these issues, we designed an app named My Tax Buddy. The objective of this app is to create awareness and help taxpayers identify the tax reliefs that they are entitled to. The main novelty of this app is to assist the taxpayers to fully utilize their tax reliefs. This app enables tracking of all expenses by categorizing the purchases made into “tax relief expenses” and “non-tax relief expenses”. In addition, the app has realtime updates on the amount of tax relief items that have been utilized by the taxpayers. Hence, the taxpayers could monitor their expenses and keep accurate records of their purchases. In summary, My Tax Buddy has high commercialization potential as an alternative financial budgeting tool with user friendly features.