Investing carries serious risks, including partial or total loss of capital. Please read the Information Note and the Risk factors and login before investing.

TwinnTax

Equity Belgium 97 investors Tax Shelter applicable

Tax Shelter

€1,400,000
Pre money valuation
30.0%
Equity offered
€111,975
Amount raised
32 days
Remaining
€50,000
Minimum target
224% funded

DISCLAIMER

Every investment decision must be based on an examination of an exhaustive set of information provided by the entrepreneur on his online profile. Spreds only proceeds to a limited verification of this information and does not control the investment opportunity within this company. Spreds did not verify the extent to which the business plan is deemed realistic and does not intervene with the final Information Note, including the retained maximum valuation. Spreds will align itself with the financial terms negotiated with the co-investor(s).

Description


TwinnTax is an app that fills and optimizes Tax Returns. It asks only simple questions, gives advices to reduce taxes from one year to another and helps its clients to take better decisions. TwinnTax's vision is to become the tax assistant for European citizens.

Problem?

FILLING & OPTIMISING TAX RETURNS REQUIRES A SPECIALIST, AT A HIGH COST
Many people think that tax returns are difficult and stressful to fill in.

As a result, people have 2 bad options :
- they choose to fill it in themselves and search for help on random websites. For complicated situations, it takes up to 20 hours, they can still make mistakes or miss possible deductions.
- they pay an accountant €50 to €200. They make an appointment, they gather their papers, go there by car, and use old technology.

EUROPEAN CITIZENS BELIEVE TAXES ARE TOO HIGH, SO they are usually very keen on receiving tips to lower taxes. Many workers would rather buy deductible goods they do not need, instead of collecting cash after being taxed.

NO EASY WAY EXISTS
to optimise tax returns without an expensive specialist

SOLUTION : TwinnTax

TwinnTax is an app that guides users to fill and optimise their tax returns. Here are TwinnTax' key features :

  • Fills step by step your tax return in 15 minutes
  • Remembers your data for the next year
  • Provides advice to reduce taxes
  • Suggests opportunities for the next year
  • Scans last year's documents and instantly displays analytics
  • Keeps data organised from one year to the next
  • Offers a double check by real pros
  • Runs instant estimates of current or future taxes
  • Gold membership offers a 30 min Skype session per year with a real accountant

Current achievements

  • A user-friendly app, helping users step by step to fill in their Belgian tax returns;
  • A custom OCR than scans previous year tax returns;
  • A strong back-end that manages users data, documents, questionnaires and calculation formulas;
  • Over 50 enthusiast Belgian beta testers (TwinnTax team has checked for free their tax return before submitting it, as a reward for the help);
  • Partnerships with local insurance brokers and a Belgian leading Bank.

The next few months :

The next TwinnTax objective is to start paying customers in October 2019, for Belgium. The application will then cover more than 95% of the actual possible cases. TwinnTax targets 200 declarations.
This service allows late arrivals to submit their declaration via a proxy and thus avoid paying a fine (from 50 to 1250€). The asking price will be 29,99€.
The second objective is to boost the diagnostic function of previous declarations. The advertising campaign will take place in mid-November so that users can still subscribe to deductible products.
The third objective is to complete and optimize 20,000 IPP returns by June/October 2020.
The fourth objective is to launch the French application in February 2020.

Want to know more about it?

Download the beta version, which only works on iOS.
Send us an email to support@twinntax.com

TAX SHELTER 45%

This business qualifies for the startup tax shelter. If you meet the conditions, 45% of your investment will be reducted from your personal income taxes. Read more…