KRA closer to meeting target as revenue collected grows - News Summed Up

KRA closer to meeting target as revenue collected grows


The Kenya Revenue Authority is likely to hit its revenue target for the current financial year which is projected at Sh1.49 trillion. The overall revenue collected for the first half of the 2017-18 financial year grew by Sh62.5billion to Sh712.2 billion, a 9.6 per cent growth from the Sh649.7 billion collected in the same period over the last financial year. In addition to this, VAT recorded growth of 7.5 per cent, mainly driven by the expansion of withholding VAT framework which now encompasses almost 7,000 agents. electionPAYE recorded growth of 9.2 per cent driven by improved compliance within the Public Sector following the establishment of a dedicated compliance programme within KRA. Customs recorded overall growth of 7.7 per cent with non-oil collections, which account for about 70 per cent of revenue growing at 8.1 per cent.


Source: The Star February 13, 2018 21:11 UTC



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