Tender Notice for Provision of Tax and Finance Advisory Services

Tender Title: Provision of tax and finance advisory services

Background

Rwanda Wood Value Chain Association (RWVCA) is a membership-based association focused on supporting businesses within the wood value chain to enhance competitiveness in local and international markets. The association operates under approved constitutional laws published in the Official Gazette n° 31 of 12/10/2020.

The vision and mission of RWVCA is to support the member businesses in wood and wood products under the Made in Rwanda Brand to be competitive in the local, regional, and international markets. To achieve this vision, there is a great need for high collaboration among the key players in the wood sector to collectively find solutions to the challenges faced by the sector.

Objective of the assignment

The objective of RWVCA in hiring a firm to tax and finance advisory services is to ensure accurate financial record-keeping, compliance with tax regulations, and effective financial management. RWVCA seeks expert guidance to manage financial assets, accounting practices, tax planning, and obligations for transparent financial records and enhanced tax efficiency.

Scope of Work

The selected firm will provide a range of services including but not limited to financial advice, financial analysis, tax compliance support, internal control assessment, budgeting, and forecasting guidance, among others.

• Expert Financial Advice: Provision of expert counsel on financial management, reporting, and analysis to optimize the organization’s financial position and mitigate risks associated with tax and financial matters.
• Financial Analysis: Review all financial reports and analysis of financial statements, performance, and key performance indicators to provide insightful guidance on financial health and future planning.
• Financial certification: Assist in the certification of financial statements
• Report format: Providing, guiding, and advice on reporting format (monthly, quarterly, and annually )financial report;
• Management of RRA Correspondences: Handling of all outgoing and incoming correspondences with the Rwanda Revenue Authority (RRA) to ensure consistent and effective communication.
• Representing RWVCA before Tax authorities and courts to resolve issues relating to tax and finance;
• EBMs Reconciliations: Monthly reconciliation of Electronic Billing Machines (EBMs) to ensure tax compliance and accuracy.
• Tax Compliance and Planning: Offering expert guidance on tax compliance and planning to minimize tax liabilities and ensure adherence to applicable tax laws and regulations.
• Tax Return Preparation: Assisting in the preparation and review of tax returns to ensure accurate tax reporting and compliance.
• Support During Tax Audits: Provision of support during tax audits and assistance in disputes to ensure a fair resolution.
• Internal Control Systems: Assistance in the review and enhancement of internal control systems through the revision of existing procedures and the establishment of new procedures to strengthen compliance and control.
• Reporting and Records Integrity: Reviewing the reliability, integrity, and accuracy of financial reports and records to ensure compliance and accuracy in line with financial regulations.
• External and Tax Audits Support: Providing support during external audits and tax audits to ensure comprehensive compliance and a smooth audit process.
• Compliance Monitoring: Examining company accounts and financial control systems to ensure that procedures, policies, and regulations are correctly followed and complied with.
• Internal Control Assessment: Identifying weaknesses in internal rules, regulations, procedure manuals, and policies, and providing advice on potential enhancements and best practices recommendations.
• Process and Reporting Analysis: Analyzing the company’s financial reporting system and filings, and making recommendations for improvements in financial and tax reporting.
• Control and Regulation Compliance: Advising management on appropriate control systems, changes required, and making best practices recommendations to ensure comprehensive compliance.
• Budgeting and Forecasting: Advising on the development and refinement of budgeting processes and financial forecasting models to optimize financial planning and management.
• Accounting Policy Development: Assisting in developing accounting policies aligned with best practices and regulatory requirements.
• Training Program Development: Conduct training sessions for RWVCA’s finance team to enhance financial and tax literacy within the organization and provide updates on tax law to build internal capabilities and knowledge.
• Software Guidance: Providing advice and support on existing or prospective accounting software and assisting in developing the chart of accounts for seamless financial management.
• Risk Mitigation Strategies: Identifying and addressing potential risks associated with supply chain restructuring, mergers and acquisitions, intellectual property, and other relevant areas to develop effective risk mitigation strategies.

The firm will closely collaborate with RWVCA’s management and Accountant to deliver strategic insights into the organization’s financial operations.

Key Deliverable:

• The firm will be responsible for delivering quarterly comprehensive reports, including financial analyses, reconciliation reports, tax compliance assessments, and recommendations for process enhancements.
• Key deliverable include detailed tax compliance reports, internal control assessments, and strategic tax planning strategies customized for RWVCA’s financial activities.

Requirements

• Company Profile and References prove the similar job achieved
• Bid submission and Price schedules;
• Copy of Trading License;
• Valid Rwanda Revenue Authority (RRA) tax clearance;
• Valid Social Security Fund (RSSB) clearance certificate;
• Good Standing Certificate from RDB;
• Practicing certificate delivered by ICPAR;
• A recommendation from the Rwanda Revenue Authority;
• The CVs describing skills, experience, and competence related to the task of Staff that will be assigned to work with RWVCA, at least one of the Employees must be a Tax Advisor and the company must have at least one employee who has a CPA or ACCA.

Submission of bids

RWVCA now invites eligible firms to submit their technical and financial offer via RWVCA’s email: procurement@rwvca.org.rw copy to info@rwvca@org.rw no later than 10^th October 2024 and or at the office located at Kicukiro. For further inquiries or additional information, please feel free to contact us at Tel: 0788436866

Evaluation and award process

Bids will be collectively evaluated for responsiveness and compliance with the required documents to determine the lowest evaluated bid for the award. Successful bidders will be notified within two weeks to proceed with contract negotiations. Note that compliance with all requirements is crucial for bid evaluation.

Payment modalities

No advance payment is planned, with invoices to be submitted quarterly and payments due within 15 days of receipt. The contract is intended to be a framework agreement for one year, subject to renewal based on service satisfaction and budget availability.

Done at Kigali, 27^th September 2024

Abdul KAREMERA

Chairman, RWCVA