TOBACCO PAYMENT SYSTEMS BY FELIX THOLE - TOBACCO ASSOCIATION OF MALAWI.

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TOBACCO PAYMENT SYSTEMS BY FELIX THOLE - TOBACCO ASSOCIATION OF MALAWI

Preamble Payment period Analysis Bank Exchange Rate Merchant/Bank Loan Common Account Withholding Tax Dollar payment Conclusion

 Paper discusses payment challenges before and after tobacco sales  Payment forms include remittance to market provider, sales proceeds to growers, grower refunds ( O/D, D/D, WHT), loan recovery, due payments to stakeholders, payment to transporters, etc  Agents include, merchant, Market provider, commercial banks, grower association, MRA, transporters, etc  Presentation for thought provoking and seeks your input for a redress

2.1 NORMAL PAYMENTS PRESENT SCENARIO EXPECTED/IDEAL SCENARIO 2.2. OTHER PAYMENTS ( PRESENT SCENARIO AND EXPECTED/IDEAL SCENARIO )

???

 Inconsistence between selling day and payment day  Exchange rate not displayed on seller sheet  Remittance delays after full repayment (Months)  Inconsistent deductions  Deductions on non beneficiaries

 Most small farmers not keeping farming transactions  Many profit margins below tax deduction threshold  Therefore suffer in silence  Refunds take months or years  3% deemed high  6. DOLLAR PAYMENT Problems in proceeds share out for club members

Industry must address the challenges to ensure removal of the inequities along the tobacco value chain. Your input is welcome

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