Young entrepreneurs trained on new tax law

By Desire Muhire.

In abid to avoid unnecessary penalties, young entrepreurs were trained on new taxe law and the importance of paying taxes on time.

The new taxe law aims to help new entrepreneurs cope with the new business model.

The law states that for new entrepereneurs, they will pay taxes of District level after two years of starting their businesses, the method adopted after many new entrepreneurs claim to pay before they make profits.

These young entrepreneurs also informed on new law of opening societies and companies and how they operate, to avoid falling in traps caused by lack of awareness.

“We mean  taxes on District level, new entrepreneurs will not be charged for two years since the beggining of their business, It is the way of helping them so that, once they make profit they pay those taxes, because they are required to pay more, It will help them to develop and grow higher,”  Pacifique Uwineza, of Chamber for Young Entrepreneurs (CYE) in the Private Sector Federation (PSF) .

Many young entrepreneurs have been facing challenges of tax penalties and other sanctions due to lack of awareness on taxes , which the training came up with as a solution.

Noel Nizeyimana, one of the participants said that, that one day-training is vital to him as it will help him doing the business.

“I have learnt about my responsibility in terms of paying taxes to avoid losses, to know what kind of tax I have to pay and the timeline, we have also reminded that the tax we pay play a big role  in rebuilding our country in various manners,” Nizeyimana said.

For Jean Damascene Musangamfura, having awareness on taxes payment is crucial, otherwise many young entrepreneurs got into penalty troubles and end up closing their businesses.

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Elias Hakizimana

Elias Hakizimana, CEO&Founder of The Inspirer Ltd,(www.rwandainspirer.com) is a professional Rwandan Journalist with Bachelor’s Degree in Journalism and Communication, received from University of Rwanda’s College of Arts and Social Sciences (CASS) in 2014. He served various media houses in Rwanda including Rwanda Broadcasting Agency (RBA) in 2013 and became passionate with English Online and Print Media Publications where he exercised his talent as a Freelance News Reporter for The New Times, The Independent, The Rwanda Focus, Panorama and more before he became a Self-Entrepreneur as the CEO and Founder of The Inspirer Limited in early 2017.

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