KRA wins global award for Itax integration with local banks

By Christine Muchira

The Kenya Revenue Authority (KRA) efforts to transform the national revenue collection system using Information technology solutions have received a coveted commendation in the global banking arena.

In  a  rare  feat  for  African  public  financial  sector  players, KRA was picked the Highly Commended Winner, Best in Class Treasury Solution In Africa award, in the just announced Treasury  Adam Smith Awards 2016.

KRA  won  the  Africa  Category  title  from  a  wider  pool  of  more  than  219 nominations from 19 countries across the world, principally for facilitating a tax payment  gateway  for  more  than  37  local  commercial  banks  on  the  iTax  and Simba system platforms.

On the winners’ podium, KRA will be sharing the limelight with global private sector  giants  such as Etihad Airways, Coca-Cola HBC AG, Toyota Motor Credit Corporation, Microsoft, Volvo Cars, Boeing, Rolls Royce Holdings Plc. and Majid Al Futtaim Holding LLC among others.

Now in its ninth year, the Adam Smith Awards organized by Treasury on Wednesday, are firmly established  as  the  ultimate  industry  benchmark  for  achievement  in  corporate treasury.

The  Adam  Smith  Awards  showcase  the  very  best  and  brightest  across the whole industry.

To  win  the  award,  KRA  submitted  a  case  study  on  the  successful  rollout  of  the iTax Domestic  Tax  platform  citing  its  Best  in  Class  attributes  as  relates  to Treasury  Management  in  the  public  sector.

The  award  submission  by  KRA provided  credible  evidence  on  measures  taken  to  streamline  domestic  and customs  tax  collections  and  the  related  treasury  management  solutions  in conjunction with leading local Corporate Bankers such as Citi among others.

Speaking  after  receiving  a  communiqué  confirming  KRA’s  win,  KRA Commissioner  General  John  Njiraini  noted  that  the  award  underlines  the Authority?s commitment to global excellence in revenue collection.

The iTax platform, he disclosed, currently features more than 3.5 million active taxpayers.

While  paying  tribute  to  KRA  employees  for  a  job  well  done,  Njiraini  confirmed that  the  new  system  has  enhanced  tax  collection  efficiencies.  For the period ending 1st January to 8th  June  2016,  the iTax platform?s payment gateway managed to process transactions valued at more than Kshs 280 billion.

The  submission  facilitated  by  the  KRA  Finance  Team  led  by  Deputy Commissioner Josephat Omondi, effectively traced the authority?s journey to the introduction  of  a  digitized  domestic  tax  collection  system  interlinked  with  ten key banks through a robust payment gateway.

The  payment  gateway  allows  local  corporates  and individual  taxpayers  to conveniently  file  their  returns  and  settle  their  tax  dues  through  the  local commercial banks network.

With the integration of the payment gateway, KRA has managed to enjoy greater operating and process efficiencies while delivering value added  services  to taxpayers.  Through the iTax integration, a key corporate banker such as  Citi managed to process more than 20% of KRAs total tax collection in the last financial year.

Since its original launch  in  March  2014,  the iTax  platform  has revolutionalised public service delivery through the complete elimination of manual processes in tax administration.

Currently,  KRA  has  migrated  in  entirety  a  variety  of  its  services  to  the iTax platform, including PIN registration, Tax Compliance Certificate application and issuance and the filing and processing of VAT refunds.

Electronic  filing  of  tax  returns  and  payment  services  are  also  available  for  all taxes, meaning that there no longer exists the need for any taxpayer to physically visit KRA offices or even their bank to transact tax business.

 

  

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