- The issue of delays in refunding VAT to traders will be solved by the end of 2024, according to Prime Minister Edouard Ngirente.
- The private sector has highlighted the issue of VAT refund delays at the 21st Taxpayers Appreciation Day ceremony.
- The Rwanda Revenue Authority (RRA) currently owes over Rwf30 billion to be reimbursed to businesspeople.
- The Cabinet approved a decision to increase the VAT retention rate by 3 percentage points to 15% to address the problem.
- The implementation of the Cabinet decision on VAT refund has been delayed.
- The government is working with the Ministry of Finance and Economic Planning to address the issue.
- The Private Sector Federation proposed using the amount owed to a trader to pay tax for the following period as a solution to VAT refund delays.
- VAT refund delays have hindered businesses and caused challenges such as inability to repay loans and lack of investment capital.
Source: newtimes.co.rw
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
