KRA misses revenue collection target by Kshs 6.5 billion

By KBC Reporter

The Kenya Revenue Authority collected 1.21 trillion shillings in taxes in the year to June this year.

Based on the revised target, this means KRA missed the revenue collection target by 6.5 billion shillings.

However, Commissioner General John Njiraini attributes this to various reforms that were halted by court cases such as customs management systems.

Njiraini expresses optimism that KRA will meet this year’s revenue collection target of 1.5 trillion shillings helped by various reforms.

KRA says the shortfall was occasioned by a slowed growth in corporate taxes as many companies felt the heat of a sluggish economy.

Sectors that recorded high revenue collections were Domestic tax, VAT, PAYE, and excise duty while Import Declaration Fees and Railway Development Levy recorded subdued revenues.

KRA believes that it is in a better position to realize the 1.5 trillion shillings target for the current financial year with the various reforms such as the customs management systems and intelligence gathering which had been previously halted by court cases.

Going forward Njiraini notes that KRA will Leverage on Third Party Data through linkage of the iTax and IFMIS to improve revenue collection.

 

  

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