FPI 2013 CONFIDENTIAL 4
Residency
In this questionnaire, residency considers the centre of the economic/business interest. You are a resident individual or enterprise if you have lived or operated (or intend to live or operate) in Rwanda for a year or more, regardless of your nationality. Non-resident individuals or entities are basically the rest of the world.
Investment (Enterprise) relationships
A direct investment relationship arises when an investor resident in one economy makes an investment that gives control or a significant degree of influence on the management of an enterprise that is resident in another economy. Control is determined to exist if the direct investor owns more than 50 per cent of the voting power in the direct investment enterprise (also called a subsidiary). A significant degree of influence is determined to exist if the direct investor owns from 10 to 50 percent of the voting power in the direct investment enterprise (also called associate). Therefore, Direct Investment is defined as any ownerships stake held by a non-resident in your entity that is 10% or more of total equity. The control or influence may be immediate (through ownership of voting power) or indirect (through ownership of enterprises that in turn have voting power). Ownership in your entity by non-residents that is less than 10% of the total equity and tradable is considered as Portfolio Investments (PI).
However, there are other investment relationships that are also of interests. These include your entity owning more than 10% of the total equity of a non-resident investor that in turn holds less than 10% of your equity stake. The 10% holding by such a non-resident investor is referred to as reverse investment and the non- resident investing enterprise is called a Direct Investment Enterprise/Entity (DIE). A resident fellow enterprise is an enterprise resident in Rwanda that is in a direct investment relationship with a non-resident enterprise because they have a common parent that is a Direct Investor (DI) in at least one of the enterprises; and neither of the fellow enterprises holds 10 percent or more of the equity in the other.
Dividends Declared and paid/received and Profits Remitted
i). Dividends are earnings distributed to shareholders or equivalent equity holdings for incorporated private entities, cooperatives and public corporations after payments of interest on debts and taxes.
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ii). Dividend Paid/Profits remitted: Dividends are declared returns on a shareholders’ equity whereas profits remitted/paid apply to transfer of net earnings from a branches (unincorporated entities) to its non- resident parent enterprise. The payment of the dividends or remittance of profit may be executed during the following financial year depending on the entity’s policy and cash flow.
Net Profits and Retained (Reinvested) Earnings
Net profits are the gross profits less corporation tax. Retained (reinvested) earnings are undistributed profits that are capitalised in the entity. Retained earnings/losses are computed by taking the net profit/loss fewer dividends declared for the period. Net profits and retained earnings/losses are requested for in Tables 2.3 and 3.3 for all entities.
Financial Instruments
Financial instruments consist of Equity and Non-equity i) Equity refers to all shares held in entities or the equivalent ownership interest in an incorporated entity. (Paid-up share capital, share premium reserves, accumulated retained earnings, revaluation and any other financing item of an entity.) ii) Non-equity refers to all other financial instruments including loans, trade credits (for goods and services), bonds, debentures, notes, money market instruments, shareholder and inter-company loans, arrears of debtor interest, currency, deposits etc.
Other Claims other than equity and loans
These include: insurance, pension and standardised guarantee schemes, employee stocks options, custody accounts or administered funds, outstanding franchise fees, and other claims not mentioned here. These consist of the following: i) Nonlife insurance technical reserves: These are provisions for unearned insurance premiums or outstanding insurance claims identified by the Insurance Corporation to cover what they expect to pay out arising from events which the claims are not yet settled.
ii) Life insurance and annuity entitlement: These consist of reserves of life insurance companies and annuity of providers for prepaid premium or accrued liabilities to life insurance policyholders and beneficiaries of annuities.
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iii) Pension entitlement: These show the extend of financial claims that both existing and future pensioners hold against either their employer or a fund designed to pay pensions earned as part of the compensation agreement between the employer and employee. iv) Provisions under standardised guarantee schemes: These are usually guarantees schemes provided by government or financial corporation such as export credit guarantees and student loan guarantee. You are required to report any claim due if your entity has acted as a guarantor.
v) Employee Stock Option: These are options to buy the equity of a company, offered to employees of the company as a form of remuneration. It is commonly offered to Chief Executive Officer (CEO) and employees of listed companies a s bonus remuneration or rewards. You are required to report the employee stock options offered to non-residents and vice-versa.
vi) Custody Accounts / Administered Funds: These are accounts/funds created at a bank, brokerage firm or mutual fund company that are managed on behalf of a group of clients. Transactions and positions should be recorded at book value.
vii) Outstanding franchise fee: These are payments made for the use of trademarks or brand names. Any outstanding claim should be reported.
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PART 1
General Information
(All respondents should complete Part 1, while for Parts 2 and 3; the filtering questions will guide you on which parts to fill)
1.1 Name, Contacts and other information
1.1a
Name of Entity: ____________________________________________________________________________
1.1b
Contact Person and Position ___________________________________________________________________
1.1c
Alternative Contact Person and Position _________________________________________________________
1.1d
Physical Address:_______________________________ Postal Address: ___________________________
Tel: ________Fax:
E-mail: Website: _______________________________________
1.1e
Date of Commencement of Operation:
1.1f
Status of Company ( tick): 1.Greenfield investment, 2. Acquisition; 3. Extension of capital (Additional
new investment); 4. Financial restructure; 5. Mergers; Purchase/Sale of existing equity in the form of
mergers; 6. Others
- Table 1.2. Shareholding Structure of the enterprise as at 31st December 2012, 31st December 2013 Name of shareholder* Country of residence Investment Relationship: Direct Investor (DI), Direct Investment Entity ( DIE), or Fellow Enterprise (FE), PI Percentage (%) shareholding
31 Dec. 2012 31 Dec.2013 1.
Total
100 100
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Table 1.3: Industrial Classification (Sector)
Please tick in the box to indicate the Industrial Classification, and also enter the percentage contribution of the
Industrial Classification on the turnover (2013)
Industrial Classification
Tick
sector
% share contribution
to entity’s turnover
2013
- Agriculture, forestry and fishing 1.1. Crop and animal production, hunting and related activities
1.1.1 Growing of non-perennial crops
1.1.2Growing of coffee
1.1.3 Growing of tea
1.1.4 Growing of other perennial crops
1.1.5 Plant propagation
1.1.6 Animal production
1.1.7 Mixed farming
1.1.8 Support activities to agriculture and post-harvest
1.2. Forestry and logging
1.3. Fishing and aquaculture
- Mining and quarrying 2.1 Mining of coltan
2.2 Mining of tin
2.3 Mining of tungsten
2.4 Mining of coal and lignite
2.5 Extraction of crude petroleum and methane gas
2.6 Mining of metal ores
2.7 Other mining and quarrying
2.8 Mining support service activities
3.1. Manufacturing of food products
3.2. Manufacture of beverages
3.3. Manufacture of tobacco products
3.4 Manufacture of textiles
3.5. Manufacture of wearing apparel
3.6. Manufacture of leather and related products
3.7. Manufacture of wood and of products of wood and cork
3.8. Manufacture of paper and paper products
3.9. Printing and reproduction of recorded media
3.10. Manufacture of chemical and chemical products
3.11. Manufacture of pharmaceuticals, medicinal chemical and botanical
3.12. Manufacture of rubber and plastic products
3.13. Manufacture of other non-metallic mineral products
3.14. Manufacture of basic metals
3.15. Manufacture of fabricated metal products, except machinery
3.16. Manufacture of computer, electronic and optical products
3.17. Manufacture of electrical equipment
3.18. Manufacture of machinery and equipment
3.19. Manufacture of motor vehicles, trailers and semi-trailers
3.20. Manufacture of other transport equipment
3.21. Manufacture of furniture
3.22. Other manufacturing
3.23. Repairs and installation of machinery and equipment
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- Electricity, gas and air conditioning supply 4.1.Electric power generation, transmission and distribution
4.2.Manufacture of gas; distribution of gaseous fuels through mains
4.3. Steam and air conditioning supply
-
Water supply; sewerage, waste management and remediation activities
5.1. Water collection, treatment and supply
5.2. Sewerage
5.3. Waste collection, treatment and disposal activities
5.4. Remediation activities and other waste management services
- Construction 6.1.Construction of buildings
6.2. Civil engineering
6.3. Specialized construction activities
- Wholesale & retail trade; repair of motor vehicles and motorcycles services 7.1. Trade and repair of motor vehicles and motorcycles
7.2. Whole sale trade
7.3. Retail trade
- Transportation and Storage 8.1. Land transport and transport via pipeline
8.2. Water transport
8.3. Air transport
- Warehousing and support activities for transportation
. Postal and courier activities
- Accommodation and food service activities 9.1 Accommodation
9.2 Food and beverage service activities
- Information and communication 10.1. Publishing activities
10.2. Motion picture, videos and television programme production , sound
10.3. Programming and broadcasting activities
10.4. Telecommunications
10.5. Computer programming, consultancy and related activities
.6 . Information service activities
- Finance and Insurance activities
11.1. Financial service activities
11.2. Insurance, reinsurance and pension funds
11.3. Activities auxiliary to financial service and insurance
-
Real estate activities 12.1. Real estate activities
-
Professional, scientific and technical activities 13.1. Legal and accounting activities
13.2. Activities of head office; management consultancy activities
13.3. Architectural and engineering activities
13.4. Science research and development
13.5. Advertising and market research
13.6. Veterinary activities
13.7. Other professional, scientific and technical activities
- Administrative and support service activities 14.1. Rental and leasing activities
14.2. Employment activities
14.3. Travel agency and tour operator activities
14.4. Security and investigation activities
- Education
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15.1. Education
- Human Health and Social work activities 16.1. Human health activities
16.2. Residential care activities
- Arts, entertainment and recreation 17.1. Creative, art and entertainment activities
17.2. Libraries, archives, museum and other cultural activities
17.3. Gambling and betting activities
17.4. Sports, amusement and recreation activities
- Others
18.1. Others (specify)
1.3.1 Entity’s Activities (Describe main activities your entity is involved in)
………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………… Table 1.4: Actual employment for 2013. Please enter the exact number of employees for each nature of employment or category. Categories of Employment Local Foreign Duration of the employee(s) stay in Rwanda Permanent resident Short term ( less than 12 months) Long term ( more than 12 months) Number of Managerial/Supervisory
Number of Administrative/ Accounts
Number of Skilled Technicians
Number of Casual labourers
TOTAL
NOTE: a) Managerial/Supervisory Workers who formulate policy, regulations and plan, organize, coordinate and direct undertakings within their establishments or organizations, b) Administrative/Accounts This typically includes general office administration, personnel (such as hiring, safety, training, benefits, and employee relations), and budget, fiscal and organizational analysis. c) Skilled/ Technical Workers who can conduct research and apply scientific knowledge to solve a variety of problems in various fields or disciplines. d) Unskilled/ Casual Workers who perform manual tasks having simple and routine nature and requiring mainly physical effort and little or no previous experience.
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Table 1.5: Compensation of Employees during 2013 (RWF) (Please enter the values (in Rwf) of compensation of employees for the years 2013) Type of Compensation Local Foreign Duration of the employee(s) stay in Rwanda Permanent resident Short term ( less than 12 months) Long term ( more than 12 months) Salaries and Wages (Net)
Fringe Benefits
NSSF/Pension
Directors Fees
Other (specify)
TOTAL
Table 1.6: Values of Imports and Exports as at 31st December 2013 in RWF
Imports/Exports 31st December 2013 Total Import of goods and Services (a)
o/w Merchandise
Services
Total exports of goods and services (b)
o/w Merchandise
Services
Net position {Exports (b) Imports (a)}
Imports of merchandise should be reported at cost insurance and freight (CIF) value while Exports are reported at Free on Board (FOB) value