Tax Matters: How Much Has The Government Collected So Far?

By Soko Directory Team / Published August 22, 2022 | 9:27 am

KEY POINTS

The cumulative public debt servicing cost amounted to 84.0 billion shillings which is 6.0 percent of the original estimates of 1,393.1 billion shillings, and 72.3 percent of the prorated estimates of 116.1 billion shillings.

KEY TAKEAWAYS

Cumulatively, tax revenues amounted to 130.6 billion shillings, equivalent to 6.3 percent of the original estimates of 2,071.9 billion shillings and 75.6 percent of the prorated estimates of 172.7 billion shillings.

Total revenue collected at the end of July 2022 amounted to 133.2 billion shillings, equivalent to 6.2 percent of the original estimates of 2,141.6 billion shillings for FY’2022/2023 and is 74.6 percent of the prorated estimates of 178.5 billion shillings.

The performance is attributable to the deterioration of the business environment seen during the month of July as evidenced by the decline in the purchasing managers index (PMI) to 46.3, from 46.8 which was recorded in July 2022.

Total financing amounted to 46.2 billion shillings, equivalent to 3.3 percent of the original estimates of 1,403.0 billion shillings and equivalent to 39.5 percent of the prorated estimates of 116.9 billion shillings.

Additionally, domestic borrowing amounted to 15.6 billion shillings, equivalent to 1.5 percent of the original estimates of 1,040.5 billion shillings and 18.0 percent of the prorated estimates of 86.7 billion shillings.

The total expenditure amounted to 179.3 billion shillings, equivalent to 5.1 percent of the original estimates of 3,544.6 billion shillings, and 60.7 percent of the prorated target expenditure estimates of 295.4 billion shillings.

Additionally, the net disbursements to recurrent expenditures came in at 66.8 billion shillings, equivalent to 5.7 percent of the original estimates and 68.0 percent of the prorated estimates of 98.2 billion shillings.

Consolidated Fund Services (CFS) Exchequer issues came in at 89.5 billion shillings, equivalent to 5.7 percent of the original estimates of 1,571.8 billion shillings, and are 68.4 percent of the prorated amount of 131.0 billion shillings.

Additionally, the 84.0 billion shillings debt servicing cost is equivalent to 11.2 percent of the actual revenues collected as of the end of July 2022.

Total Borrowings as of the end of July 2022 amounted to 43.5 billion shillings, equivalent to 3.1 percent of the original estimates of 1,389.8 billion shillings for FY’2022/2023 and 37.5 percent of the prorated estimates of 115.8 billion shillings.

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