Rwamagana business owners advised to be VAT compliant

Rwamagana - Officials from Rwanda Revenue Authority (RRA) yesterday, launched a campaign in Eastern Province, aimed at sensitizing traders to register for Value Added Tax (VAT). The exercise also unearthed massive irregularities in the way the traders were conducting their businesses. According to Robert Mugabe, the Director Revenue Protection, VAT registration is compulsory for traders whose annual turnover is in excess of Rwf20m per year.He said that the exercise was meant to asses if business operators registered for VAT and sensitizing those who have not to comply, as stipulated by the law. Mugabe added that every registered trader is required to display the certificate of registration where it can be easily seen. “Certificate display allows easy identification of traders registered for VAT...but unfortunately, even those registered do not display the certificates,” he said. J.M. Gakwerere, the RRA Coordinator for Eastern Province said that most traders were not issuing receipts, as a way of evading VAT. He noted that every transaction should be backed by a receipt, and a situation where traders set flat tax rates for themselves will not be accepted. “Commercial registration certificate, trade licence and possession of Tax Identification Number (TIN), is a prerequisite for traders. We want all traders to be within tax-net,” he said. Ends

National

Rwamagana business owners advised to be VAT compliant