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VAT half-year collections fall for first time since pandemic on tough economy
The decline in VAT collections was largely responsible for the Sh93.2 billion shortfall in the ordinary revenue target for the first six months of the 2024/25 fiscal year.
Value added tax (VAT) collections fell by 4.3 percent in the six months to December 2024, new data shows, the first such decline since the pandemic, reflecting the impact of subdued consumption in a tough economy.
Combined local and import VAT collections fell to Sh304.1 billion in the period from Sh317.8 billion at the same time in 2023, according to new data from the National Treasury.
