Government Issues New Tax Measures To Cushion Businesses Against COVID-19 Impact
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On May 9, 2020, the Ministry of Finance and Economic Planning
announced new tax measures to cushion businesses against the
effects of the Coronavirus (COVID-19) pandemic, including:
- allowing the computation of quarterly
corporate and personal income tax prepayments based on business
transactions of the current tax period instead of the previous tax
period as per the provisions of article 34 of the Income Tax Act.
Implementation modalities for this measure will be issued by the
Rwanda Revenue Authority;
- an exemption from employment income
tax for a specified period of time for all teachers in private
schools and employees of companies operating in the tourism and
hotel industry earning a monthly net income not exceeding FRW150
000. The exemption for teachers will apply for a period of six
months from April to September 2020 and for hotel and tourism
employees for a period of three months from April to June 2020;
- an exemption from value-added tax
(VAT) for all masks made in Rwanda to contain the spread of the
Reviewed by Celia Becker, an Executive in ENSafrica’s
Africa Regulatory and Business Intelligence department.
Originally published 12 May 2020
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