BDO Rwanda, a professional services firm, played host to a tax workshop on Friday, November 24, focusing on the latest updates in tax legislation.
The comprehensive session addressed amendments, including key changes to the new law on tax procedures, the intricacies of transfer pricing, alterations in VAT laws, and nuances within the decentralised tax system, among other topics.
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The workshop, attended by stakeholders and industry professionals, aimed to empower participants with the knowledge needed to actively engage in taxation, accounting, and advisory roles, aligning with the newly enacted tax laws.
In an interview with The New Times, Egide Clement Niyitegeka, Tax Partner at BDO Rwanda, emphasised the importance of staying informed about the recent changes in tax laws.
Niyitegeka stated: "Rwanda Revenue Authority (RRA) published changes in tax law in 2023, affecting how taxes are collected and paid. It's crucial for our stakeholders to be aware of these changes, ensuring compliance, timely payments, and contributing to the country’s development.”
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Niyitegeka highlighted that the recent workshop is just the beginning of a series of educational initiatives. BDO EA Rwanda plans to organise workshops and webinars tailored to specific sectors. Niyitegeka explained: "These sector-focused trainings will provide clients in different industries with insights relevant to their concerns, be it in hospitality, mining, services, and more.
"Apart from tax-focused events, BDO EA Rwanda offers a spectrum of services aligned with BDO International Limited standards. These include external audit, advisory services covering corporate finance, risk advisory and compliance endeavours, tax guidance, and filing, among others.”
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Jean D’Arc Utamuliza, a member of the finance department at Research Triangle Institute (RTI) Rwanda, highlighted the significance of the tax workshop for international NGOs.
"Being an international NGO, we actively claim VAT as we incur it on vendors and various other taxes. Attending this workshop was essential for us to delve into the nuances of the new tax law, ensuring compliance.
"As partners with BDO, who conducted our external audit last year, attending was a no-brainer. Despite the wealth of information gained today, a day felt too short to absorb everything,” she said.
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Similarly, Gilbert Habimana from Trinity Metals emphasised the course’s necessity in navigating changes to value-added tax: "This course proved indispensable; I acquired valuable insights into the alterations in value-added tax. As taxpayers, staying abreast of these changes is critical for business compliance, and neglecting it could jeopardise operations.
"For Trinity Metals, this newfound knowledge is bound to be beneficial. Given BDO&039;s role as our auditors from 2019 to the present, their involvement assured us that this workshop would provide valuable knowledge.”
About BDO EA Rwanda
BDO is globally known for its client proximity, unfailing commitment to excellence, practical advice, and unmatched ethical behavior.
BDO EA Rwanda, operating under BDO East Africa and a member of BDO International, has positioned itself as a respected professional services firm in Rwanda.
Offering services in audit and assurance, tax, advisory, and Business services outsourcing, BDO Rwanda caters to medium-sized enterprises, large businesses, and cross-border corporations.
For more information, visit: https://www.bdo-ea.com/en-gb/about-us