The Kenya Revenue Authority (KRA) has so far netted Ksh 3.4 billion from the ten month-long tax amnesty programme which commenced on September 1, 2023.
According to KRA Domestic Taxes Department Chief Manager Caroline Rotich, the authority anticipate a further collection of Ksh 10.5 billion from those already registered under the programme which is scheduled to end on June 30, 2024.
“More than 17,000 taxpayers have applied for the tax amnesty which commenced on 1st September, 2023, and we expect the number to immensely grow as we continue to create awareness amongst taxpayers,” said Caroline Rotich KRA Domestic Taxes Department Chief Manager.
KRA says it has identified 2.8 million taxpayers who have penalties and interest and qualify for the tax amnesty programme.
The process will see the taxman forgo billions in penalties waivers as it seeks to boost compliance and meet annual targets.
Through the Finance Act 2023, KRA has introduced tax amnesty
programme that allows taxpayers to apply for waiver of penalties
and interest accrued until December 31, 2022.
Through this programme, taxpayers will only be required to pay the principal tax amount of outstanding tax debts.
KRA is anticipated to collect over Ksh 51 billion from the debts accrued in the period.