KRA Commissioner-General John Njiraini. The taxman has collected Sh963.8 billion exceeding tax target of Sh963.7 billion in 2013/14. Photo/FILE
What you need to know:
KRA bets on improved compliance to hit the mark of Sh1.18 trillion target for current fiscal year.
Kenya Revenue Authority (KRA) met its revised tax collection target of Sh963.7 billion in the fiscal year ended June, helped by double digit growth in revenues from customs duties, large and medium-sized taxpayers.
The taxman said it collected a total of Sh963.8 billion in the period, reflecting a 100 per cent performance based on the revised lower target that was informed by a weaker GDP outlook.
Based on the original target of Sh973.5 billion, KRA’s collection would have underperformed by one per cent.
Treasury has set a target of Sh1.18 trillion for the taxman this fiscal year to help fund a budget of Sh1.7 trillion.
The new target represents a rise of 16.4 per cent over the taxman’s collection in the 12 months ended June, with KRA betting on improved compliance to hit the mark.
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Note: The results are not exact but very close to the actual.
