Home Business KRA collects Ksh 20.8B in unpaid taxes under amnesty programme 

KRA collects Ksh 20.8B in unpaid taxes under amnesty programme 

0

Taxpayers with pending tax penalties and interests risk being locked out of Tax Amnesty Programme after June 30, 2024, Kenya Revenue Authority has warned.

KRA says under the programme, at least half a million taxpayers have paid overdue principal taxes amounting to Ksh 20.8 billion out of Ksh 28.7 billion which had been self-declared as unpaid taxes.

“Taxpayers who had defaulted on filing and paying their taxes have so far benefited from Ksh 244.7 billion in waiver of penalties and interests,” said KRA in a statement released Thursday.

The amnesty programme which was introduced under the Finance Act 2023 targeted taxpayers who had not been filing their returns and had accrued penalties and interests to December 31, 2022.

Under the amnesty programme, taxpayers with overdue taxes have until June 30, 2024 to pay the taxman the pending principal taxes.

“There will be no amnesty, waiver, or write-offs on penalties and interests after 30th June 2024,” the Authority warns.

“Further, KRA clarifies that the Tax Amnesty does not apply to customs and import duties and interest and penalties accrued after December 30, 2022.”

KRA is riding on the programme to widen the tax base, enhance compliance and increase revenue collection while giving taxpayers with tax disputes a leeway.

KRA is in the race to meet the collection target of Ksh 2.496 trillion by close of the current financial year which ends in June 30, 2024.

In nine months of the year to March 28, 2024, the Authority has collected Ksh 1.535 trillion leaving it with an uphill task to collect Ksh 961 billion within the next two months.

Website | + posts