The new tax reforms announced by the government will see a number of changes ranging from exempting Value Added Tax (VAT) on processed cereals such as maize flour and rice, as well as the reduction of corporate income tax statutory rate from 30 to 28 per cent.
Here are four things you should know about the new tax reforms:
- 1. They were informed by a country-wide assessment
- 2. VAT exemption on foodstuffs already in force
- 3. The VAT exemption will last for “a long time”
- 4. New changes will promote investment, broaden the tax base
Source: www.newtimes.co.rw
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