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MRA ENGAGES EXPORTERS ON CUSTOMS CONTROLLED WAREHOUSES
Summary
The Malawi Revenue Authority (MRA) has urged farm produce exporters to process their goods through customs-controlled warehouses.
Updated on : 31-05-2023
The Malawi Revenue Authority (MRA) has urged farm produce exporters to process their goods through customs-controlled warehouses.
Speaking during an engagement with farm produce exporters, MRA taxpayer education manager McHizzal Kawanga observed that Malawi has been losing a lot of forex because some local and foreign unscrupulous traders were taking advantage of lack of structured markets of farm produce.
He said: “Those traders who fail to remit forex to the Reserve Bank of Malawi (RBM) will be committing a crime under Foreign Exchange Regulations and will be fined an equivalent of the amount of goods exported with five-years’ imprisonment.”
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