Press release : November 26, 2020
KPMG and start-up VIREO join forces to give your employees access to a fair tax system
In the picture : Xavier Martinez, Partner – Tax Global Mobility & People Services de KPMG Luxembourg and Jonathan Marroyen Cofondateur et Chief Executive Officer (CEO) of VIREO.
Filling out tax returns in an environment where national and international tax measures are increasingly complex is a real headache for human resources departments and their employees. What if the solution came from a start-up 100% made in Luxembourg?
A digital tax assistant that allows all employees to file their tax returns without any tax knowledge required. This is what KPMG Luxembourg and VIREO want to make available to Luxembourg companies. Xavier Martinez, Partner Tax – Head of Global Mobility and People Services at KPMG Luxembourg explains: “The words ‘digitalisation’, ‘innovation’ and ‘fair taxation’ are central to the interests of many players in the Luxembourg market. As a company that listens to its clients and technological developments, KPMG Luxembourg seeks to offer digital solutions designed to improve the attractiveness of companies and the well-being of their employees. Our partnership with VIREO is a prime example. This young start-up has digitised the entire tax code and created myTax, the new virtual tax assistant that gives all employees access to fair taxation”.
Thanks to a private personal space, by answering some very simple questions about their household situation, income and expenditure (…), each employee can determine whether a tax return (or annual statement) is advantageous or compulsory in their situation. If so, they can see how much tax they will have to reclaim or re-pay, choose the method of taxation that suits them best and download their completed form and any appendices ready to send. To ensure that employees pay the right amount of tax, myTax automatically applies the tax benefits to which their household is entitled. So it’s impossible to miss out on any tricks that will help you pay less tax. And for those who have any questions during the process, VIREO provides assistance via a message service on its platform or by telephone.
“In addition to digitising personal taxation, we wanted to make it truly accessible to 100% of our employees. Our users are now coming back to us with very gratifying feedback: they enjoyed doing their tax return. We’ve noticed that people are keen to understand their tax situation and, above all, to pay the right amount of tax. That said, the gain is twofold. Employees see their purchasing power increase by an average of €984 per year. As for the employer, he benefits from an attractive means of remuneration or a supplement to an annual bonus, for example“, says Jonathan Marroyen, CEO of VIREO.
It’s up to each employer to decide how they want to reward and retain their employees in these uncertain times, when digitalisation seems to be one of our best allies in contributing to a world where economic prosperity and well-being at work are one and the same.