App titled Taxefy allows users to claim tax credits for up to five previous tax years.
Taxefy, an innovative tax app based in Austria, is making tax returns easier and more rewarding for millions of Austrians. Founded in 2022 by Aleksej Sinicyn, a native of Vienna and former student of mathematics and physics, Taxefy is designed to guide users through their tax returns in a simple, engaging, and game-like manner[1].
Unique Features of Taxefy
Taxefy stands out from other tax apps with its unique features. The app uses an intelligent algorithm to tailor questions specifically to the user’s situation, making the process straightforward and accessible[1]. Users can see their potential tax refund update in real time as they provide answers, offering a sense of immediate gratification[1].
The app also manages the entire tax return submission process digitally through the official FinanzOnline interface to Austria's tax authorities, ensuring secure and confidential data transfer[1]. To make tax filing accessible to a wider audience, Taxefy supports eight languages, including German, English, Arabic, Turkish, Polish, Romanian, Russian, and Serbian[2].
Taxefy operates on a risk-free "no win, no fee" model, meaning there are no upfront costs for using the app. A small percentage fee is only charged from the tax refund amount if the user actually receives a refund, depending on the service level chosen[1].
Benefits for Taxpayers in Austria
By using Taxefy, Austrian taxpayers can maximize their tax refunds by uncovering deductible expenses that many might overlook in their everyday life, potentially increasing their refunds significantly[1][2]. The entire employee tax return process can be completed in about eight minutes using the app, simplifying a task that can often be complex and time-consuming[2].
Taxefy prioritizes cybersecurity and responsible data handling measures, providing peace of mind for users. The app's game-like guidance and clear explanations make tax filing less intimidating, especially for users unfamiliar with tax matters[1].
Success Stories and Growth
Since its founding, Taxefy has recovered around ten million euros in tax refunds for its users and has been able to increase the average tax refund for its users to 993 euros[1][2]. The highest tax refund ever achieved through Taxefy is 19,000 euros for a single user[1].
Taxefy has been downloaded 500,000 times and has nearly 300,000 activated accounts. The tax refund is directly credited to the user's account[1]. From 1 October, FinanzOnline will have more security through ID Austria and a two-factor method[3].
Taxefy charges a commission of 10% (or up to 20%, depending on the service package) only if a successful tax credit is achieved[1]. According to Sinicyn, every additional euro in the household budget matters to Taxefy's users[4].
Focus on Austria
Aleksej Sinicyn plans to strategically focus on Austria, as it currently has no competition in the specific field that Taxefy operates in[4]. Sinicyn claims that many people are overwhelmed with the employee tax return and are not aware that it can be submitted retroactively for up to five years[4].
Taxefy currently has six shareholders and is currently profitable[4]. With its user-centric approach, Taxefy is revolutionizing tax filing in Austria, offering an innovative, secure, and hassle-free solution for millions of taxpayers.
- The technology-driven tax app, Taxefy, uses a unique algorithm to tailor questions for personal-finance situations, offering a game-like approach to simplifying general-news matters like tax returns.
- By using Taxefy, Austrians can benefit from increased tax refunds by uncovering hidden deductible expenses, streamlining the process down to eight minutes, and enhancing their lifestyle by saving more money.
- The innovative company, Taxefy, partners with Austria's official FinanzOnline interface for secure digital tax return submission, ensuring confidential data transfer and supporting eight languages, making tax filing accessible to a wide audience.
