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Nigeria-based startup TaxStreem has introduced a digital platform aimed at simplifying and automating tax compliance for businesses by embedding it into everyday financial operations.
The solution, unveiled by co-founders Kelechi Ibe and Sam Ayo, is designed to address persistent challenges faced by businesses navigating complex tax requirements and fragmented financial records.
According to the founders, the platform aggregates transaction data from multiple sources, including bank accounts, email, WhatsApp Business, and invoicing tools. It then automates tax calculations, facilitates timely filing with relevant authorities, and maintains organised records for audit purposes.
Ibe explained that the platform was built to eliminate inefficiencies that often make compliance burdensome for businesses. By centralising financial data and automating tax processes, TaxStreem enables organisations to meet their obligations more accurately and efficiently.
He noted that many businesses struggle with compliance because financial information is dispersed across different systems, making it difficult to track, calculate, and file taxes correctly. The platform addresses this gap by integrating these processes into a single, seamless workflow.
Tax compliance remains a significant hurdle for many Nigerian businesses due to evolving regulations, manual filing processes, and the lack of integrated financial systems. By leveraging automation and intelligent data processing, TaxStreem aims to reduce errors, save time, and improve compliance outcomes.
The founders bring a blend of legal and technical expertise to the venture. Ibe has extensive experience in tax law and advisory, having worked with leading firms such as KPMG and Latham & Watkins, while Ayo has built advanced financial and regulatory intelligence systems, specialising in artificial intelligence and machine learning applications.
With the launch, TaxStreem is positioning itself as a RegTech solution that helps businesses transition from manual, reactive compliance processes to automated, proactive tax management.
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