Tax collections rise at slowest pace

Tax collections in the just-ended financial year grew at the slowest pace in recent history on the back of depressed business profitability and job losses in the second-half which started even before Covid-19 struck.

Official revenue statistics published by Treasury secretary Ukur Yatani showed on Friday total tax receipts in the financial year ended June 2020 rose a measly 0.92 per cent to Sh1.453 trillion compared to Sh1.440 trillion a year earlier.