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Taxpayers Got Up To Ksh 200 Billion In Tax Amnesty By KRA

BY Soko Directory Team · February 27, 2024 10:02 am

The Finance Act of 2023 introduced the Tax Amnesty Program that allows Taxpayers to apply for waiver of penalties and interest accrued for periods up to 31st December 2022, upon full payment of their respective principal taxes by 30th June 2024. The program runs from 1st September 2023 to 30th June 2024.

The Kenya Revenue Authority (KRA) has announced that so far as of 20th February 2024, 227,071 Taxpayers have benefited from waiver of penalties and interest amounting to Kshs. 209 billion under the ongoing Tax Amnesty Program having paid a total of Kshs. 14.5 billion in principal taxes.

KRA reminds Taxpayers with outstanding principal taxes to take advantage of the amnesty program. Further, Taxpayers who have not filed their returns for the amnesty period are urged to file the returns to benefit from the Tax Amnesty Program.

We also encourage Taxpayers with ongoing tax disputes to expedite the resolution of their cases within the Amnesty period by considering out-of-court settlements through the Alternative Dispute Resolution (ADR) framework. This will enable them to take advantage of the ongoing Tax Amnesty, noting that the provisions on waiver of penalties and interest and abandonment of taxes, were repealed by the Finance Act, 2023.

KRA also takes this opportunity to remind Taxpayers whose Year of Income ends on 31st December 2023 to file their Income Tax Returns by 30th June 2024.

Read Also: KRA Enhances Collaboration With Cross Border Traders To Boost Regional Trade

This is a statement from the Kenya Revenue Authority.

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