{"id":50952,"date":"2024-07-03T17:20:58","date_gmt":"2024-07-03T17:20:58","guid":{"rendered":"https:\/\/new.igihe.com\/government-to-disburse-rwf-244-million-in-tax-refunds\/"},"modified":"2024-07-03T17:20:46","modified_gmt":"2024-07-03T17:20:46","slug":"government-to-disburse-rwf-244-million-in-tax-refunds","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/government-to-disburse-rwf-244-million-in-tax-refunds\/","title":{"rendered":"Government to disburse RWF 244 million in tax refunds"},"content":{"rendered":"<p>This initiative was introduced in February encouraging clients to request for EBM receipts every time they purchase things from local enterprises thereby attaining eligibility to receive a reward equal to 10% of the VAT paid on each EBM receipt.<\/p>\n<p>Speaking during the release of the Financial Year 2023\/2024 performance results, Batamuliza Hajara, the Commissioner, Domestic Taxes Department, said a total of RWF 16 billion was registered in sales during the period under review, with the government collecting RWF 2.4 billion in VAT.<\/p>\n<p>Hajara confirmed that 10% of the VAT collected will soon be distributed to 23,675 beneficiaries who have registered their claims with RRA.<\/p>\n<p>During the financial year which ended on June 30, RRA collected RWF 2.62 trillion in revenue from taxes, falling short of its target by RWF 17.8 billion (0.7%). However, the revenue netted represents a growth of 12.3% compared to 2022\/23.<\/p>\n<p>Additionally, during the financial year 2023-2024, RRA financed 51.2% of the national budget, up from 48.9% the previous year, 2022-2023.<\/p>\n<p>RRA Commissioner General Niwenshuti Ronald attributed the RRA&#8217;s performance to several factors, including the increased use of the EBM system by businesses. The number of taxpayers registered on EBM increased from 84,448 in fiscal year 2022\/23 to 117,631 in 2023\/4.<\/p>\n<p>RRA also credited the VAT reward program and Voluntary Disclosure Incentives for the positive performance. 1,783 taxpayers participated in the disclosure program, revealing a total of RWF 14.3 billion in previously undisclosed income. So far, RWF 6.6 billion of this amount has been collected.<\/p>\n<p>Niwenshuti also attributed the 12% growth in national revenue to the strong economic growth of 9.1% recorded between July 2023 and March 2024 and the automation of key services which simplified communication and service delivery. This year\u2019s economic growth is projected to be 7.4%.<\/p>\n<p>The Commissioner General also expressed his optimism that RRA will achieve its revenue target of 3 trillion in the current financial year.<\/p>\n<p>\u201cThis year, our revenue target is set at an ambitious sum of RWF 3,061.2 billion which is 54% of the national budget of slightly over RWF 5,5 billion and we are very optimistic that we shall achieve it,\u201d Niwenshuti remarked.<\/p>\n<p>Currently, Rwanda\u2019s tax revenue stands at 15% of its total GDP of RWF 16.355 trillion.<\/p>\n<figure class=\"spip-document spip-document-72771 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/ebm-10-0794b.jpg\" alt=\"The initiative was introduced in February encouraging clients to request for EBM receipts every time they purchase things from local enterprises thereby attaining eligibility to receive a reward equal to 10% of the VAT paid on each EBM receipt.\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Rwanda Revenue Authority (RRA) announced on Wednesday, July 7, 2024, that it will soon refund RWF 244 million in taxes to clients through a rewarding initiative aimed at encouraging tax compliance and improving business practices.<\/p>\n","protected":false},"author":131,"featured_media":2000072770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[72],"byline":[192],"hashtag":[],"class_list":["post-50952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured-news-home","byline-wycliffe-nyamasege"],"bylines":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":131}],"contributors":[{"id":192,"name":"Wycliffe Nyamasege","slug":"wycliffe-nyamasege","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":131}],"featured_image":{"id":2000072770,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/ebm-10-0794b.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/50952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=50952"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/50952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000072770"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=50952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=50952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=50952"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=50952"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=50952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}