RRA investor’s dialogue exposes fears on customs union

Local and foreign investors on Wednesday used the investors’ dialogue as a platform to express their worries concerning the East African Community Customs Union (EACCU). The dialogue, organized annually by the Rwanda Revenue Authority (RRA) acts as an interactive forum where investors voice out their concerns regarding the taxation policy as the tax body’s officials respond to the queries. During the interactive dialogue, most of the investors demanded to know the level of competitiveness of their products against products from the other four member states. In response, the RRA Commissioner General advised them to ensure that the quality of their products is high if they are to compete favorably. The Chairman of the Private Sector Federation, Faustin Mbundu, also dismissed the fears by assuring the business group that so little has changed since Rwanda has already been trading with some countries under the COMESA treaty. “Right from the time we signed the COMESA treaty in 2002; Kenyan goods have been coming to Rwanda on a tax free regime while Ugandan goods paid a 6 percent tax.” “The fear of EACCU is simply because the integration has been fully blown yet in actual sense we are just moving a small step further. All we need is improve the way we work, be more productive for a wider market and improve customer care,” Mbundu advised. Other issues discussed were the long queues at the tax payment points, tax assessments and tax audit penalties. Officials pledged to open up other tax payment points in various banks and also educate the public more on tax issues to avoid the penalties. An investor, Janvier Karaha of Aqua San water tanks, said these forums are good as they improve the relationship between the authority and the business community adding that the education offered in these few hours saves one from future tax penalties. Some achievements realized since last year’s forum include, establishment of a tax issues forum and reformed motor vehicle property tax among others. Ends

National

RRA investor’s dialogue exposes fears on customs union