Most companies in Rwanda are required to prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). Small and Medium Enterprises (SMEs) may use IFRS for SMEs.

The main taxes include Corporate Income Tax (CIT), Value Added Tax (VAT), Pay As You Earn (PAYE) for employees, and withholding taxes. Other taxes may apply depending on the business sector.

Annual income tax returns are generally due by 31st March of the following year. VAT returns are usually filed monthly, by the 15th of the following month.

Audited financial statements are mandatory for public interest entities and large companies. SMEs may not be required to have audits, but must maintain proper accounting records.

Businesses with an annual turnover of RWF 20 million or more are required to register for VAT with the Rwanda Revenue Authority

Yes, all businesses must keep accurate and up-to-date bookkeeping records for at least 10 years, as required by Rwandan law.

Taxes in Rwanda are filed electronically through the Rwanda Revenue Authority’s e-tax platform. Registration and filing can be done online.

You can consult with licensed accountants, tax advisors, or firms specializing in Rwandan business compliance. The Rwanda Revenue Authority also provides guidance and resources.

While not mandatory for all businesses, having a local accountant or bookkeeper is highly recommended to ensure compliance with Rwandan accounting and tax laws.

Penalties for late filing or payment can include fines and interest charges. It is important to comply with all deadlines to avoid these penalties.

Yes, foreign companies can register and operate in Rwanda, but must comply with local accounting, tax, and business regulations.

Accounting and bookkeeping records must be kept for at least 10 years, as required by Rwandan law.

Yes, the Rwanda Revenue Authority requires most VAT-registered businesses to use Electronic Billing Machines (EBMs) for invoicing.

Yes, the Rwanda Revenue Authority provides an e-tax portal for online tax filing and payment, making compliance easier for businesses.

The standard corporate income tax rate in Rwanda is 30%. However, special rates or incentives may apply to certain sectors or investments.

Yes, Rwanda offers various tax incentives for new investments, including preferential tax rates, tax holidays, and exemptions for qualifying sectors..