Economy

KRA nets Sh300m in tax evasion amnesty plan

times-tower
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Summary

  • Businesses and individuals suspected of tax evasion have offered to pay Sh600 million under an amnesty programme that cushions beneficiaries from penalties and legal suits.
  • KRA Commissioner for Domestic Taxes Rispah Simiyu told the Business Daily that the businesses and individuals have already paid Sh300 million under the Voluntary Tax Disclosure Programme (VTDP) that started on January 1.

Businesses and individuals suspected of tax evasion have offered to pay Sh600 million under an amnesty programme that cushions beneficiaries from penalties and legal suits.

KRA Commissioner for Domestic Taxes Rispah Simiyu told the Business Daily that the businesses and individuals have already paid Sh300 million under the Voluntary Tax Disclosure Programme (VTDP) that started on January 1.

The taxman said that 55 businesses and individuals had declared their tax liabilities as at Tuesday last week with more expected to apply for the amnesty in the coming days.

In the three-year programme KRA has offered up to 100 per cent interest and penalties waiver on taxes that have not been paid in five years.

The number of individuals and businesses targeted under the amnesty programme remains undisclosed but KRA started sending the tax cheats notifications last month.

“As part of our administrative actions, we have already dispatched notices to thousands of taxpayers asking them to take advantage of the VTDP by declaring and remitting their previously undeclared taxes,” Mrs Simiyu said.