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Drop in disposable income cuts VAT collections to 12-year low
Official statistics show the KRA suffered a 1.11 percent fall in VAT receipts for the first time, since it started enforcing International Monetary Fund-led reforms more than a decade ago.
Value-added tax (VAT) collections have fallen behind deductions on pay to workers, for the first quarter of the current financial year, in a rare development signalling the impact of a decline in disposable income owing to a tough economy.
Official statistics show the Kenya Revenue Authority (KRA) suffered a 1.11 percent fall in VAT receipts for the first time, since it started enforcing International Monetary Fund-led reforms more than a decade ago.
