Regional retailer Nakumatt Holdings Rwanda based subsidiary has been named the best tax paper by the Rwanda Revenue Authority.
Nakumatt Rwanda which operates 3 retail stores in Kigali, Rwanda was adjudged the best tax payer on Friday evening at a colourful event hosted by the RRA to celebrate tax payers in the country.
At the event, Nakumatt Rwanda received the 2016 best Taxpayer award. The firm also received the best Electronic Billing Machine (EBM) user award.
Speaking at the event, RRA Commissioner-General Richard Tusabe confirmed that Tax compliance rates in the country are steadily edging up with continue support from various economic fronts including the private sector.
The RRA Boss disclosed that the Tax body had managed to beat its collection target in the last financial year by more than Rwf8.6 billion based on a total collection of than Rwf1, 102.8 billion last year.
Speaking moments after receiving the RRA awards, the Country Manager Adan Ramata said the firm would continue maintaining prudent tax management systems to support Tax Collection and settlement initiatives in Rwanda.
“At Nakumatt we remain committed to maintaining prudent and ethical business management standards including prompt tax payments,” Ramata said.
The retailer he said had successfully managed to integrate Electronic Billing Machines (EBM) across the branch network in Rwanda.
Last year, Nakumatt Rwanda opened its third Nakumatt store in the country nine years since the firm first entered the fast growing country.
In recent months, Nakumatt Holdings in Kenya which has been facing a financial crunch has closed some of its outlets in Nairobi such as Junction, Thika Road Mall (TRM), Westgate, Ronald Ngala, and Haile Selassie outlets.
Last month, Nakumatt and Tuskys supermarkets appointed a financial firm to work details of a planned merger between the two retail chains.
Retail markets analysts Korah Karanja said the proposed merger will succeed if the two family owned retailers allow independent teams to manage their operations.