Tuesday, June 6, 2023

Award Winning Accounting Firm Tips Malawians to Embrace Digital Taxation to Curb Corruption and Fraud

KB Accounting Services' MD Joseph Kadzakumanja posing with the award


KB Accounting Services, a locally owned accounting firm which has been named by a UK based International Acquisition (IA) as Best Corporate Secretarial Services Firm for 2022, has advised companies and individuals to adopt digital or online taxation transaction to end corruption and fraud.

In an interview with Shire Times after being named winner, the firm’s Managing Director, Joseph Kadzakumanja said by using digital or online transactions in taxation, it limits physical interaction between tax collectors and taxpayers which at times has been the root cause of corruption amongst officers.

He said as a company which deals in taxation services, it is their duty to advise clients and would be clients on how best to operate their businesses which in return assists the economic development of the country.

Said Kadzakumanja: “I wish all government institutions would be online. All services in Malawi are supposed to be automated, individuals should not be meeting face to face but people should be able to pay their taxes online.

“Tax returns to the Malawi Revenue Authority can be linked to companies accounting softwares and this can assist to end corruption or fraud.”

Commenting on the journey it has taken the firm to be recognized internationally for its services, Kadzakumanja said they had to overcome many challenges since being established in 2014 to gain customer trust and now they are reaping the dividends of hard work.

“The journey has been very tough, for a firm to reach this particular stage you need to overcome many challenges. For example, here in Malawi without a physical office it is hard for clients to trust you and also being new in the industry it took time for companies to trust us and give us business,” he said.

This is not the first time for the firm to win an international award as it was also a recipient of another award in 2021 from a UK based Magazine called Corporate Vision as the best accounting and consulting firm.

According to Kadzakumanja, these awards are a testament on how companies, organisations and individuals have faith in the firm’s services in auditing, taxation, accounting systems, tax planning and accounting services in general.

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