2018/2019 revenue collections surpass target by Rwf 29.6 billion

By IGIHE
On 13 July 2019 at 05:10

Rwanda Revenue Authority (RRA) has announced Revenue Performance Results for Fiscal Year (FY) 2018/2019 where revenue collection in FY 2018/19 was Rwf 1421.7 billion above the target of Rwf 1392.1 billion, a 29.6 billion excess.

Tax revenue collection for 2018/19 was Rwf 1398.8 billion while the target was Rwf 1373.1 billion, an excess of Rwf 25.7 billion above the target.

Compared to Rwf 1234.1 billion collected in FY 2016/17, additional revenue of Rwf 164.7 billion was collected (a growth of 13.3%).

Non-tax revenue collected by RRA amounted to Rwf 22.9 billion compared to the target of Rwf 19.0 billion. Compared to FY 2017/18, it increased by 26.0%.

Taxes were collected since July 2018 until June 2019.

Local Government (LG) taxes and fees collections totaled to Rwf 60.5 billion, an achievement of 100.6% of the Rwf 60.1 billion target and an excess of Rwf 0.4 billion.

This represents year-on-year growth of 12.5% and a nominal increase of Rwf 6.7 billion.

Speaking to the media yesterday, RRA Commissioner General Pascal Ruganintwali attributed 2018/2019 revenue performance to a number of factors such as a lower inflation, improved voluntary compliance of taxpayers and administrative measures among others.

"The economy was projected to grow by 7.5% during FY 2018/19 and data released by the National Institute of Statistics of Rwanda shows a growth of 7.7%, 9.6% and 8.4% for the quarter 1 (July-September), quarter 2 (October-December) and Quarter 3 (Jan-Mar) of 2018/19 respectively,” he said.

For the FY 2019/2020, RRA announced a target of collecting Rwf 1,535.8 billion representing 54.1% of the national budget which is Rwf 2,876.9 billion.

“For the FY 2019/2020 RRA will enhance its compliance improvement plan mainly to; Information and Communication Technology sector; Hotels, Bars and Restaurants; importers and customs brokers (Clearing Agents) to improve their levels in voluntary compliance,” said Ruganintwali.

The RRA Commissioner General Pascal Ruganintwali attributed 2018/2019 revenue performance to a number of factors such as a lower inflation, improved voluntary compliance of taxpayers and administrative measures.
Rwanda Revenue Authority (RRA) has announced Revenue Performance Results for Fiscal Year (FY) 2018/2019 has surpassed target by Rwf 29.6 billion

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