[FEATURED] Income tax: RRA calls for compliance ahead of deadline

Rwanda Revenue Authority (RRA) has urged all taxpayers who have an obligation of filing and paying Income Tax Quarterly Prepayment (IQP) for Quarter 1 to do it before the deadline of June 30. Early declaration and pay of the income tax avoids congestion on the last day and penalties for those who miss the deadline. ALSO READ: Six key proposed changes in Rwanda's VAT tax bill The IQP is an advance for 2023 income tax, calculated based on income generated during the months of January, February and March. The payment of this tax ensures that all businesses benefiting from Rwanda’s infrastructure, security and prosperity contribute their fair share towards the nation’s development. Just like other taxes, Income Tax Quarterly Prepayment is declared through RRA website or with a mobile phone. “The taxes for the first quarter are declared not later than June 30,” Emmy Mbera, Assistant Commissioner in charge of Tax Control Division at RRA, said. “Sometimes taxpayers tend to wait for the deadline. That is why we encourage them to pay the taxes before the deadline approaches in order to avoid congestion at the end of the month. When they fulfil their tax obligations earlier, they can easily get any assistance in case of complications.” The RRA also encourages those obliged to pay value-added tax (VAT) and Pay As You Earn (PAYE), usually done on a quarterly basis, to declare and pay before the deadline of June 15 in order to avoid last-minute complications. ALSO READ: Why new tax procedures law is a big deal ALSO READ: Govt to tax e-cigarettes, exempt milk powder, water In order to harmonize tax payments with the Commissioner General’s new regulations on the payment of VAT and PAYE, the taxpayers are encouraged to declare and pay for the month of June not later than July 17; and July, August and September not later than October 16.

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[FEATURED] Income tax: RRA calls for compliance ahead of deadline