Day: February 17, 2021

REGISTRATION  Business or other taxable activities Any person who sets up a business or other activities that may be taxable is obliged to register with the Tax Administration within a period of seven (7) days from the beginning of the Read More …

.  TAX ON IMMOVABLES Houses and buildings   Tax base  Taxable elements Within the framework of the tax on houses and buildings, the taxable product will not be the income generated by the houses and buildings but the value of these Read More …

PROPERTY TAX (4TH BASE): BOATS History In earlier times, property tax was based on 6 bases of which the 5th and 3rd bases were abolished, while the 1st, 2nd and the 6th were decentralized to collection at district level. The Read More …

.   INTRODUCTION The Concept of VAT and its History in Rwanda In contrast to income tax, value-added tax (VAT) is a tax on consumption. This means that the taxpayer is not taxed on the moment when their wealth increases but Read More …

.  GENERAL PRINCIPLES In tax law, the taxation of incomes earned by companies is based on some general principles. These include the following: The company is a subject of tax law distinct from its shareholders; The company is taxable on Read More …

WHO IS LIABLE TO PERSONAL INCOME TAX? One important concept to consider is that of residence. Residence can be defined as the place where someone lives. However, it has a very specific meaning as far as taxation is concerned. For Read More …

DEFINITION OF TAX AND DISTINCTION FROM OTHER CONCEPTS Definition of tax Several authors have tried to define tax with limited degrees of success. But taking into account different concepts, tax has various definitions. Basing on the definition given by Gaston Read More …

GOVERNMENT SECTOR FINANCIAL REPORTING An International Perspective  In recent decades, accounting has become increasingly global. The trend towards globalisation began with the development of International Financial Reporting Standards (IFRSs) in the private sector. However this has in more recent times Read More …

FOREIGN BRANCH INTRODUCTION Introduction A head office may set up a  branch in another country as part of its expansion policy.  The currency of the foreign branch may differ from that of the head office.  Thus it will be necessary Read More …

. BRANCH ACCOUNTS – INTRODUCTION A branch may maintain a complete set of records, leading to an Statement of Comprehensive Income and Statement of Financial Position being prepared for the branch.  This practice is not very common where a company Read More …