Rwanda : Gatsibo district businessmen learn Tax policies

Executive of Gatsibo District with RRA Workers

In a bid not to charge fines for delayed tax payments and under declared books of accounts, a team of Rwanda Revenue Authority (RRA) has given training to Gatsibo businessmen on the different tax policies.

Erneste Hitiyaremye a worker at RRA said that most of the businessmen are forced tax fines simply because they do not understand the different tax structures available.

“They need to be taught which percentages, time frame and book keeping methods required of every type of tax.” Explains the tax specialist Hitiyaremye

Gatsibo business owners were taught how business whose total capital is below 360,000Rwfr is tax exonerated by RRA.

Businesses worth 1,200,000Rwfr are taxed 20% of their profits.

In case a person’s business incurs losses, RRA exonerates the tax till the business revives and is able to make profits in a period not greater than five years.

Gatsibo Businessmen who attended the tax training

In order for all the process of taxation to go on smoothly, businessmen were advised to always do prepare authentic books of accounts.

Reactions of most of the businessmen who attended the training is that, they wish has always been to contribute to the development of their region through tax payments however they claimed to often lack enough information governing tax collections.

Gatsibo businessmen also requested RRA representatives to open up accounts for tax collection in local banks like Umurenge SACCO since the usual accounts are in distant local banks.

Meanwhile over 450 million Rwandan francs is Gatsibo district’s targeted tax collection, come the end of this 2012 fiscal year.

Equally the district intends to use part of the collections to light Kabarore road not to mention their plan to supply electricity and water to rural areas.