28.10.2024
TaxTech Weekly: Austrian Taxefy expands to Germany
💥 TaxTech Big News
Austrian-based Taxefy® takes the plunge and expands to Germany's big private tax declaration market
Last Monday, brutkasten broke the news that Austrian-based private DIY tax declaration app Taxefy is coming to Germany to join the untapped potential of around eleven million Germans that still don't do their private tax declaration on a regular basis.
According to founder Aleksej Sinicyn, Taxefy sets itself apart through a multi-language interface, a simple app with easy-to-answer questions and a flow where users only pay when they get an actual tax refund.
Similar to Germany, workers in Austria can also often claim a tax refund of up to 1.000 euro simply by doing their private tax declaration every year. But the similarities don't stop there: same language, comparable tax system and processes.
All this lead to an expansion that will make the German competition sit up and take notice: German WISO Steuer might not be able to offer such a simple to use app, whereas German Taxfix probably is not too worried about their user interface but more about becoming profitable soon enough; after fundings of more than 300 million euro and big layoffs. So the timing might be right for the Austrian startup – taking the advantage of a fresh start while the competitors have to deal with their own legacies.
That being said, getting noticed by the public might be the more difficult and expensive task. That’s why Taxefy has also successfully secured an undisclosed investment from a yet unknown investor (Sinicyn himself holds 31,89% of the Taxefy Holding GmbH) to compete with the big German players in the local advertising game.
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🚀 News of the Week
Accountable is Belgium's eleventh fastest growing company (Link)
E-invoicing Germany: Synopsis of the BMF letter by TAXPUNK (.pdf)
Dr. Roger Gothmann for Taxdoo about generative AI and bookkeeping (Link)
Candis' Lars Böhnke about his way from tax expert to product management (Link)
Jun Miyake for Accountancy Today about how to argue for tax technology adoption (Link)
Michel Menk (CRO @ milia.io) about how different tax consulting will be in five years (Link)
Tide acquires UK-based payroll solution Onfolk (Acquired by Tide) to expand its offerings for their business customers (Link)
Deutschlandtempo: First ever digital trade tax assessment notice sent out by German municipality (Link)
Not long after their recent funding round mika completes its founding trio with CTO Henry Müssemann (Link)
Sarah Beha (Haufe Taxulting) speaks with Carsten Schulz (Vorstand Steuerberaterkammer Niedersachsen) about the potential revolution of tax consulting by AI (Link)
🎙️ Talks of the Week
brutkasten interviews Taxefy founder Aleksej Sinicyn about his plans to expand to Germany with their DIY private tax declaration app (Link)
OnlyTax&Accounting about their six biggest learnings in the context of the digital transformation (Link)
🎩 Jobs of the Week
Customer Service Agent - Digitalisierung & Steuern @ smarta Steuerberatung
Steuerfachangestellte/r @ Kontist Steuerberatung
Senior Software Engineer @ Taxdoo
Golang Engineering Manager @ Taxfix
💥 TaxTech Big News
Austrian-based Taxefy® takes the plunge and expands to Germany's big private tax declaration market
Last Monday, brutkasten broke the news that Austrian-based private DIY tax declaration app Taxefy is coming to Germany to join the untapped potential of around eleven million Germans that still don't do their private tax declaration on a regular basis.
According to founder Aleksej Sinicyn, Taxefy sets itself apart through a multi-language interface, a simple app with easy-to-answer questions and a flow where users only pay when they get an actual tax refund.
Similar to Germany, workers in Austria can also often claim a tax refund of up to 1.000 euro simply by doing their private tax declaration every year. But the similarities don't stop there: same language, comparable tax system and processes.
All this lead to an expansion that will make the German competition sit up and take notice: German WISO Steuer might not be able to offer such a simple to use app, whereas German Taxfix probably is not too worried about their user interface but more about becoming profitable soon enough; after fundings of more than 300 million euro and big layoffs. So the timing might be right for the Austrian startup – taking the advantage of a fresh start while the competitors have to deal with their own legacies.
That being said, getting noticed by the public might be the more difficult and expensive task. That’s why Taxefy has also successfully secured an undisclosed investment from a yet unknown investor (Sinicyn himself holds 31,89% of the Taxefy Holding GmbH) to compete with the big German players in the local advertising game.
💜 TaxTech News+
Become a monthly or yearly supporter of TaxTech News
Support TaxTech News to keep us going
Get our weekly newsletter delivered straight to your inbox
Get mentioned as a supporter at the end of every newsletter
🚀 News of the Week
Accountable is Belgium's eleventh fastest growing company (Link)
E-invoicing Germany: Synopsis of the BMF letter by TAXPUNK (.pdf)
Dr. Roger Gothmann for Taxdoo about generative AI and bookkeeping (Link)
Candis' Lars Böhnke about his way from tax expert to product management (Link)
Jun Miyake for Accountancy Today about how to argue for tax technology adoption (Link)
Michel Menk (CRO @ milia.io) about how different tax consulting will be in five years (Link)
Tide acquires UK-based payroll solution Onfolk (Acquired by Tide) to expand its offerings for their business customers (Link)
Deutschlandtempo: First ever digital trade tax assessment notice sent out by German municipality (Link)
Not long after their recent funding round mika completes its founding trio with CTO Henry Müssemann (Link)
Sarah Beha (Haufe Taxulting) speaks with Carsten Schulz (Vorstand Steuerberaterkammer Niedersachsen) about the potential revolution of tax consulting by AI (Link)
🎙️ Talks of the Week
brutkasten interviews Taxefy founder Aleksej Sinicyn about his plans to expand to Germany with their DIY private tax declaration app (Link)
OnlyTax&Accounting about their six biggest learnings in the context of the digital transformation (Link)
🎩 Jobs of the Week
Customer Service Agent - Digitalisierung & Steuern @ smarta Steuerberatung
Steuerfachangestellte/r @ Kontist Steuerberatung
Senior Software Engineer @ Taxdoo
Golang Engineering Manager @ Taxfix