By Yohane Symon:
Companies have been encouraged to send their accountants for refresher training in taxation to help them understand amendments in the taxation Act.
Tax Consultant Misheck Msiska made the remarks in Mangochi at the end of a two-day tax planning workshop organised by APTL Global Limited.
Msiska said that tax is a highly technical field which requires a skilled and updated mind in order to ensure that what is remitted to the tax collecting body is what a company or a business is supposed to remit.
“Tax is a major risk for businesses; hence, it is very important for finance personnel to be updated on issues of tax to have knowledge on how they can manage their tax affairs properly. This helps them to avoid tax risks that are inherent to businesses,” he said.
Msiska observed that many finance personnel in many companies do not have full knowledge of tax because the taxation Act keeps on changing.
In his remarks, APTL Global Limited Chief Executive Officer Tickson Kondowe said his firm organised the training to empower the finance practitioners on how they can successfully handle tax matters.
“We note that there are a lot of gaps on how employees in companies are handling tax services—for example the issue of transfer pricing, tax planning, remittances to Malawi Revenue Authority (MRA), among others,” he said.
Kondowe said his firm will continue to organise such training to help more tax practitioners ensure efficiency.
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