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May 26, 2020
2020-5777

Rwanda issues directive on utilization of credit notes

The Rwanda Revenue Authority (RRA) issues taxpayer credit notes for tax overpayments that have been verified and approved by the revenue authority. The credit note is then presented by the taxpayer to the nearest revenue authority office to offset future tax liabilities. This, in some cases, entails the credit note being presented to the revenue authority several times.

In an apparent attempt to take inventory of the volume of unutilized credit notes, cash flow projection and national budgeting purposes, the RRA issued, on 11 May 2020, a directive requesting taxpayers holding approved but unutilized credit notes to present them to their nearest RRA office by 10 June 2020.

Taxpayers are required to present original copies of the approved credit notes.

Taxpayers who do not present their credit notes as directed will forfeit the unutilized tax overpayment.

Accordingly, all taxpayers should review their credit notes and present them to the nearest RRA office on or before the deadline.

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For additional information with respect to this Alert, please contact the following:

Ernst & Young Rwanda Limited, Kigali
Ernst & Young (Kenya), Nairobi
Ernst & Young Advisory Services (Pty) Ltd., Africa ITTS Leader, Johannesburg
Ernst & Young Société d’Avocats, Pan African Tax – Transfer Pricing Desk, Paris
Ernst & Young LLP (United Kingdom), Pan African Tax Desk, London
Ernst & Young LLP (United States), Pan African Tax Desk, New York

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