Standard Bank - BOL to Wallet

MRA to Maximize Revenue Through Export Warehouses

Kapoloma (far right) interacting with Giants Sprout Limited officials Kapoloma (far right) interacting with Giants Sprout Limited officials Pic By; Dickson Chivwati Gondwe-ZBS

The Malawi Revenue Authority (MRA) has described the introduction of export warehouses as a clear strategy that will enhance the country's revenue base.

MRA head of corporate affairs said this today after inspecting some warehouse to appreciate how they are fairing in export markets.

Kapoloma says through the export warehouses the institution is able to track and monitor export proceeds.

"We have enhanced our capacity to follow exports from the farm gate markets to export warehouses," Kapoloma added.

Rachel Banda of Giants Sprout Limited has rated the initiative as progressive in export trading saying since last year they have exported 3,000 bags of groundnuts to Kenya while 2,000 bags were sold locally.

"We are optimistic that the export warehouses will uplift businesses of most traders in the country and there is need to support this initiative," Banda said.

Government introduced the export warehouses last year to address tax evasion and smuggling of Agriculture produce to other countries.

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Last modified on Tuesday, 05/03/2024

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