Taxes set to cover only half of Budget

Genghis Capital head of research Churchil Ogutu. FILE PHOTO | NMG

Tax collections are set to cover just half of the Sh3.23 trillion budget for the year starting July, setting the stage for increased borrowing.

The projected revenue from the Kenya Revenue Authority (KRA) is expected at Sh1.621 trillion, leaving another Sh1.6 trillion to be raised through borrowing in internal State revenues like fees and fines.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.