Taxation expert Misheck Msiska says equipping companies’ finance personnel with knowledge on tax is critical as it reduces the risks.
He said this on Friday in Mangochi at the end of a two-day tax planning workshop organised by APTL Global Limited to equip companies’ finance personnel on how to carry out tax planning services.
Msiska, who owns MM Tax Advisory Services, said taxation is a highly specialised field, as such, there is need to ensure that employees who handle tax issues are knowledgeable.
“Tax is a major risk for businesses; hence, it is important for finance personnel to be acquainted with issues of tax to have knowledge on how they can manage their tax affairs properly,” he said.
In his remarks, APTL Global Limited chief executive officer Tickson Kondowe said his firm organised the training to empower finance personnel to competently handle tax matters.
He said: “We note that there are many gaps on how employees handle taxation issues.
“For example, there are issues of transfer pricing, tax planning and remittances to Malawi Revenue Authority, among others.”
One of the participants, Linda Mkandawire, an accountant at Malawi Stock Exchange-listed TNM plc, said the training was worthwhile, adding that they learnt how to undertake proper tax services in their companies.
“The training has taught us to ensure standards when doing our tax job and never skip information. We are now geared to do our work effectively,” she said.
