Rwanda's ‘prohibitive’ new property tax

Tax experts and industry players have expressed concerns about the newly introduced sales tax on immovable property, which they claim is vague and too high.

In the new tax law, the government is introducing a 5 per cent tax on sale of any immovable property above Rwf30 million.

However, tax experts have said that, much as the principle is permissible, it is on the higher side, especially for companies, which are already paying capital gains.