KRA Surpasses Monthly Collection Target For September

KEY POINTS
Data from the National Treasury for September 30 shows Kenya Revenue Authority (KRA) collected a total of 465 billion shillings between July and September against a quarterly target of 517.5 billion shillings.
KEY TAKEAWAYS
The taxman is expected to collect at least 173 million shillings every month as it targets to collect a total of 2.07 trillion shillings in the current financial year.
The government received 680.7 billion shillings in total revenues in the three months to September 30, with taxes constituting nearly 70 percent of the revenues.
Data from the National Treasury for September 30 shows Kenya Revenue Authority (KRA) collected a total of 465 billion shillings between July and September against a quarterly target of 517.5 billion shillings. This was an 11.6 percent increase compared to the 416.8 billion shillings collected in a similar period last year.
In September alone, the taxman collected 185 billion shillings up from 169.6 billion shillings in a similar period last year. Improved economic conditions helped this following the lifting of covid 19 restrictions and the ongoing transformation of the Authority including the implementation of a high-performance culture with stringent performance accountability as well as strict enforcement of tax laws in the fight against tax evasion.
It also collected 20.2 billion shillings in non-tax revenues which present nettings from fines and other levies on taxpayers. Treasury also reported that a total of 13.4 billion shillings categorized as additional domestic financing was received at the exchequer.
The taxman is expected to collect at least 173 million shillings every month as it targets to collect a total of 2.07 trillion shillings in the current financial year. KRA has been betting on digitization and improved compliance from taxpayers to raise nettings from taxes.
The taxman has continued to employ technological strategies to assist seal revenue loopholes. One of the strategies KRA has employed is the web-based system, iWhistle. The system allows the public to unanimously report corruption. This has enabled the authority to gather corruption and tax evasion-related information from the public while concealing the anonymity of the reporters.
The authority is currently rolling out the Tax Invoice Management System (TIMS), which aims at plugging loopholes resulting from weaknesses in the ETR regime. The system will help in the standardization and authentication of tax invoices at the time of generation by the trader and transmission to KRA on a real-time or near-real-time basis.
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