The Kenya Revenue Authority has announced that it collected up to Sh1.554 trillion as of the end of March 2023.
In a statement, the authority said revenue collection was averaged at 95.1 per cent on the original target and 93.4 per cent on the Supplementary target.
"As at the close of March 2023, revenue collection averaged 95.1 per cent on original target and 93.4 per cent on Supplementary target, representing a collection of Sh1.554 trillion," the statement read.
This means KRA collected 8 per cent more as compared to the last financial year.
KRA further stated that it has invested in modern technology, which works efficiently as the revenue collection and settlement system from source to The Exchequer.
"With this in place, there is no room for revenue diversion as strict surveillance plugs revenue loopholes," KRA said.
The company also said it remains committed to bridging the deficit on target by implementing Revenue Enhancement Initiatives (REI) which include rolling out of eTIMS for efficient and effective VAT collection, integration of KRA systems with betting companies leading to an improved collection in Excise Tax on betting.
Others are withholding Tax on winnings, the amicable settlement of tax disputes through Alternative Dispute Resolution (ADR) and Tax Base Expansion aimed at bringing more taxpayers into the tax bracket.
"KRA remains committed to enhancing mobilisation of government revenue, and to facilitate growth in economic activities and trade by ensuring compliance with tax and customs laws," KRA said.
){kind=link}
