13 December 2016 Rwanda amends VAT law to exempt new supplies for financial institutions and increase penalties for electronic billing A Value Added Tax (VAT) Amendment Law No. 40/2016 was enacted and published in the Official Gazette of the Government of the Republic of Rwanda on October 18. It modifies and complements VAT Law No. 37/2012 of 09/11/2012. The new law brings a number of new items into the scope of the VAT exemption and also incorporates into the main Actthe offenses and penalties for non-compliance with the use of Electronic Billing Machines (EBMs), which were previously set forth in Ministerial Order No. 002/13/10/TC of July 31, 2013. The amendments are effective from the month of October 2016 for VAT returns due for filing with the Tax Administration by November 15. Document ID: 2016-2128 |
