Rwanda
Ministerial Order determining Simplified Accounting Method for Small Businesses
Ministerial Order 5 of 2019
- Published in Official Gazette 18 on 6 May 2019
- Assented to on 29 April 2019
- Commenced on 6 May 2019
- [This is the version of this document from 6 May 2019.]
Article One – Simplified accounting method for small businesses
A taxpayer, who carries out a small business, who opts for paying taxes on actual profit does simplified accounting requiring to keep the following basic records:1°a record of all daily sales which indicate all daily cash and credit sales;2°a record of all daily purchases which indicates goods or services acquired by cash and by credit to constitute a stock in trade or constitute necessary operating expenditures;3°a record of all money transactions which indicates the cash entries and cash expenditures;The basic records referred to in point 1º, 2º and 3º of Paragraph One of this Article are annexed to this Order.Article 2 – Repealing provision
All prior provisions contrary to this Order are repealed.Article 3 – Commencement
This Order comes into force on the date of its publication in the Official Gazette of the Republic of Rwanda.History of this document
06 May 2019 this version
Commenced
29 April 2019
Assented to