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KRA Sets New Monthly Tax Collection Record

Kenya government vehicle auctions 2022The Kenya Revenue Authority (KRA) has set a new monthly tax collection record for the month of June as the taxman continues to beat its revenue collection target for the current fiscal year.

According to data from the National Treasury Statement of Actual Revenues and Net Exchequer Issues, tax collections as of June 30 were up by 15.5 percent to Sh.201.5 billion from Sh.174.4 billion in the same month last year.

And in the 12 months to June, KRA collected Sh2.03 trillion exceeding the initial target of Sh1.882 Trillion and two other upward revenue target revisions of Sh1.911 Trillion and Shs.1.976 Trillion.

“I believe we will be over the original target of Sh1.8 trillion by Sh140 billion,” KRA Commissioner General Githii Mburu said.

The taxman attributed the performance to the enhanced fight against tax evasion, which has been anchored on active surveillance and enforcement operations that have been reinforced by collaboration with the multi-agency team as part of efforts to fight against economic crimes.

The exchequer, which is the money collected on behalf of the National Government, grew by 23 percent. This is after KRA collected Sh1.899 Trillion compared to Sh1.544 Trillion collected in the previous financial year. This translates to a performance rate of 103.3 percent against the target.

“The positive revenue growth rate mirrors the improved tax compliance from patriotic taxpayers who contributed to the collection of revenue surplus of Sh148.9 Billion against the original target, which is the highest surplus ever in KRA’s history,” the taxman said in a statement.

“This also enabled The Authority to record another milestone after revenue collection just about tripled in the last 11 years from Sh 707.36 Billion in FY2011/12 to Sh 2.031 Trillion in FY2021/22. The performance represents a growth of 187.1 percent in the last eleven years.”

The post KRA Sets New Monthly Tax Collection Record appeared first on Nairobi Wire.



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