Repatriation of Malawian export proceeds under CD1 – who is the gatekeeper?

Phiri Kampanje, Brian (2022): Repatriation of Malawian export proceeds under CD1 – who is the gatekeeper?

Abstract

Tracking export proceeds is of prime importance to Malawi in view of the perennial forex shortage. This study has demonstrated disjointed efforts between Reserve Bank of Malawi, Malawi Revenue Authority and other players such as courier service providers, bus companies etc. in the economy. It is therefore recommended that synchronised computerised system should be prioritised to track each and every potential export proceed especially at this time when Malawi is claiming USD300 billion as undeclared export proceeds.

• Item Type: MPRA Paper
• Language: English
• Keywords: Repatriation; Malawi; Export; Proceeds
• Subjects: K - Law and Economics > K2 - Regulation and Business Law > K23 - Regulated Industries and Administrative Law; K - Law and Economics > K3 - Other Substantive Areas of Law > K39 - Other; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M2 - Business Economics > M21 - Business Economics

References

Exchange Control (Repatriation of Export Proceeds and Operation of Foreign Currency Denominated Accounts) Regulations 2022

Financial Intelligence Unit (2016) Money Laundering Typologies - Malawi

Malawi Revenue Authority (2022) Introduction of an Export Discharge Note for all Exports Consignments exiting Malawi accessed at https://www.mra.mw/press-releases/introduction-of-an-export-discharge-note-for-all-exports-consignments-exiting-malawi

Malawi Trade Portal (2022) “View 1search procedure” accessed at www.malawitradeportal.gov.mw/?r=searchProcedure/view1&id=176 News24 (2022) “Malawi accuses US firm of owing $300 billion in unpaid mining taxes”, 4th August 2022 accessed at https://www.news24.com/fin24/companies/malawi-accuses-us-firm-of-owing-300-billion-in-unpaid-mining-taxes-20220804

Reserve Bank of Malawi (20113) Adjustment of the Minimum Threshold for Completing of a CD1 Form for Exports from Malawi, Press Release, 23rd May 2013

Reserve Bank of Malawi (2021a) Period for Repatriation Export Proceeds to Malawi, Press Release, June 2021

Reserve Bank of Malawi (2021) Re-introduction of Mandatory Sale of Export Proceeds, Press Release, 27th August 2021

Sangala, Tom. (2019) “Reserve Bank of Malawi introduces cross-border system”, Times Online, 26th February 2019 accessed at https://times.mw/reserve-bank-of-malawi-introduces-cross-border-system/