Economy

KRA misses nine-month target on falling formal sector performance

Tuesday April 19 2016

KRA commissioner-general John Njiraini: The tax agency missed its target collection by Sh69 billion. PHOTO | FILE

The Kenya Revenue Authority (KRA) collected Sh842.5 billion in the nine months to March, amounting to 11.7 per cent growth over the same period from the last fiscal year.

However, the taxes were below the nine-month target of Sh911.6 billion by a significant Sh69 billion.

KRA Commissioner-General John Njiraini said during a press conference today that performance by the corporate sector had led to low income taxes while lower imports caused related duties to underperform by a significant margin.

READ: KRA reports Sh28bn first quarter revenue shortfall

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