Digital Encyclopedic Tech Ltd
EXERCISE
The company AMAMARA LTD started operations in 2024 with an initial capital of: 20,000,000 FRW
it sells the following products
| Description | Amount (FRW) |
|---|---|
| Sales of Phones | 25,000,000 |
| Sales of Laptops | 18,000,000 |
| Sales of Accessories | 7,000,000 |
| Description | Amount (FRW) |
|---|---|
| Purchases of Phones | 15,000,000 |
| Purchases of Laptops | 10,000,000 |
| Purchases of Accessories | 4,000,000 |
| Expense | Amount (FRW) |
|---|---|
| Rent | 2,400,000 |
| Salaries | 3,600,000 |
| Electricity & Internet | 500,000 |
| Transport | 700,000 |
| Marketing | 400,000 |
| Depreciation | 1,000,000 |
Closing Stock: 8,000,000 FRW
CIT Rate: 28%
Closing Stock of 2024 becomes Opening Stock of 2025.
Opening Stock 2025 = 8,000,000 FRW
| Description | Amount (FRW) |
|---|---|
| Sales of Phones | 50,000,000 |
| Sales of Laptops | 35,000,000 |
| Sales of Accessories | 15,000,000 |
| Description | Amount (FRW) |
|---|---|
| Purchases of Phones | 28,000,000 |
| Purchases of Laptops | 18,000,000 |
| Purchases of Accessories | 6,000,000 |
| Expense | Amount (FRW) |
|---|---|
| Rent | 4,800,000 |
| Salaries | 6,000,000 |
| Electricity & Internet | 900,000 |
| Transport | 1,100,000 |
| Marketing | 700,000 |
| Depreciation | 2,000,000 |
| Bank Charges | 300,000 |
Closing Stock: 12,000,000 FRW
Accounts Receivable: 5,500,000 FRW
Suppliers Payable: 4,000,000 FRW
Bank Loan: 6,000,000 FRW
Corporate Income Tax (CIT) for the year 2025 should be declared and paid not later than which date according to Rwanda tax regulations?
Select the correct deadline and justify your answer.
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