Kenya Revenue Authority (KRA) has pledged support for Kenya’s partnership with Japan to create a conducive environment for Japanese investors in the country.
Speaking during a meeting with the Ambassador of Japan to Kenya, H.E Okaniwa Ken, KRA Commissioner General Mr. Humphrey Wattanga said that the Authority has a responsibility to promote investment by safeguarding the business environment and facilitating trade.
“Besides revenue collection, KRA is mandated to facilitate trade and implement policies aimed at creating a favorable environment for investors in the country. We will continue working with relevant Government agencies to attract Japanese investors in the country” said Mr. Wattanga.
Mr Wattanga said that Japan is Kenya’s key investment partner noting that trade volume as of October 2023, Kenya exported goods worth Ksh 4.84 Billion to Japan and imported goods worth Ksh 46.1 Billion. This resulted in a collection of Ksh 18.7 Billion in revenue this year, 2023.
He added that Japan is one of the critical KRA partners especially in trade facilitation and border control. Through its agency Japan International Cooperation Agency (JICA), the Government of Japan has previously offered capacity development for KRA staff in trade facilitation and border control, installed border surveillance and control equipment, donated a patrol boat, patrol vehicles, baggage scanners amongst others.
The Ambassador of Japan to Kenya, H.E. Okaniwa Ken said that the establishment of good tax policies is one way to create a conducive business environment for investors. He said that approximately 144 Japanese companies are operating in Kenya and many other investors are willing to invest in the country.
The Ambassador noted that Kenya has occupied a privileged position in Japan’s diplomatic relations within the region and is the leading recipient of Japanese Development Assistance in Sub-Saharan Africa. He appreciated KRA for the long-term partnership and pledged to continue collaborating with the Authority to create a robust economy that will enable KRA to enhance revenue collection.