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    Malawi’s Balaka-based Cutrate Traders has supported the re-introduction of 16.5% Value Added Tax regrets smuggling of products from Mozambique

    Posted On 09 Dec 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: Deposit photos

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Sosten Gwengwe, Melawi’s Minister of Trade concedes that, smuggling is a primary menace to the local industry. Smuggling is the unlawful importation or exportation of goods subject to customs control.

    Cutrate Traders Acting General Manager – Austin Majawa, whose company is a distributor of cooking oil in the Eastern Region, said since the introduction of Value Added Tax (VAT), cooking oil industries have boosted prices of the product but about 30% resulting in them forfeiting business.

    He meant, this has coerced crooked traders to buy cooking oil from Mozambique and smuggle it into the country through permeable borders in the region.

    “We used to buy a 200 litters drum of cooking oil at K18 000, but now the price has gone up to K200 000 and this is killing our business as people are no longer buying from us,” let out Majawa.

    He expanded that, the crisis is not vital the re-introduced VAT but the ineptitude by government to deter smuggling of cooking oil in the country, saying they are now stuck with drums of cooking oil as people choose to buy cheap smuggled from Mozambique where there is no VAT on cooking oil.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    8 Comments

    1. Enofe December 9, 2020 at 12:45 am Reply

      Thank you for the report. What is Melawi going to do, early next year when Africa free trade is implemented. Time past due to remove all these foreign made borders. Abuja Nigeria. Enofe

      • New Africa Business News, Staff Correspondent December 9, 2020 at 12:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Olivier December 9, 2020 at 12:53 am Reply

      Congratulation new Africa business news for being Africa’s most read, global online newspaper. Kigali Rwanda. Olivier

      • New Africa Business News, Staff Correspondent December 9, 2020 at 12:54 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Sonia December 9, 2020 at 1:00 am Reply

      We are all extremely glad for the coming of Africa Free Trade Area in our great Continent. Trading without European made borders in Africa. Monrovia Liberia. Sonia

      • New Africa Business News, Staff Correspondent December 9, 2020 at 1:01 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Ada December 9, 2020 at 1:06 am Reply

      Thank you for your newsletters. Love it. Berlin German. Ada

      • New Africa Business News, Staff Correspondent December 9, 2020 at 1:07 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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