Zero percent duty on import of yarn
June 15, 2009 - Rwanda
The Rwandan government recently introduced the budget amounting to Rwf 838 billion or US $1.5 billion in which it also has implemented a few policy reform measures, which includes introducing zero duty status on imports of yarn.
The government is implementing the EAC’s common external tariff which leads to a major loss in revenues and hence the tax policy changes across most sectors, said the Minister of Finance, Mr Musoni.
The second biggest share of the budget, nearly $330.1 million, will be allocated to infrastructure while other priorities like human development and production capacity will be allocated $468.8 million and $152 million respectively.