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Rwanda, Burundi get $22m ‘lost’ revenue
Bank of Kigali headquarters. Minister of Finance and Economic Planning James Musoni said the country’s disbursement was estimated at 65 per cent of revenue losses from Customs duties and related taxes. Photo/FILE
Posted Monday, October 5 2009 at 00:00
Rwanda’s budget was thus prepared in way that there would be sufficient domestic resources to cover at least recurrent spending by 2012.
By July 2009 the country had also implemented a number of policy measures that would facilitate trade and fast track economic integration with the other EAC partner state.
One of the measures is the removal of surcharge on sugar that cost the government about $3.9 million (Rwf 2.2 billion).
Also, the country provided fiscal incentives in the form of exemptions to alternative sources of energy like liquefied petroleum gas and energy saving devices.
Officials say this would cost government about $526,300 (Rwf300 million).
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