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Rwanda (GMT +2)


      General:
           ▪ Capital City: Kigali
           ▪ Official Language: Kinyarwanda, French and English
           ▪ Currency: Rwandan Franc (RWF)
           ▪ Main Exports: Coffee, tea, tin, hides
           ▪ Surface Area: 26.3 sq. km (thousands)
           ▪ Population: 14,256 million (2024,est)
      Key Economic Indicators:
           ▪ GDP: $14.09 billion (2023) / GDP Growth Rate: 8.2% (2023)
           ▪ CPI Inflation Rate (annual): 19.8% (2023)
           ▪ Sovereign Credit Rating: Fitch: B+/Stable
           ▪ Indicator of Economic Freedom Score: 51.6/100
      Exchange Controls:
           ▪ Very liberal, some restrictions on the import and export of capital
      Basis of Taxation: (Tax Year End: 31 December)
           ▪ Residents: Worldwide income
           ▪ Non-residents: Rwandan-source income
      Tax Rates:
           ▪ Individuals: Progressive rates to 30% [the first RWF 60,000 of taxable income - 0%]
           ▪ Companies: 28%
           ▪ Inheritance and Donations Taxes: N/A
           ▪ VAT: 18%
           ▪ Withholding Tax: Varying rates apply to residents and non-residents
           ▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
           ▪ Double Taxation Agreements: Belgium, Mauritius and South Africa
      Useful links:
           ▪ Rwanda Revenue Authority   http://rra.gov.rw
           ▪ National Bank of Rwanda   http://www.bnr.rw
           ▪ Rwanda Development Board   http://www.rdb.rw

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