Kenya Revenue Authority (KRA) is optimistic of hitting its revenue targets despite a slow start in the first two months of the current financial year, which have been marked with drops. KRA collected Sh115.8 billion last month (July) and in August, so far, it has netted Sh85 billion. This included job losses which affected growth on Pay As You Earn (PAYE) taxes that registered a paltry two per cent increase, compared to 11 per cent recorded between July 2019 and February 2020. In the last quarter of the 2019/20 financial year, KRA collected Sh352 billion, a decline of 20.9 per cent on revenues. It however recorded a 1.7 per cent jump in total revenue collection for the financial year ended June 30, despite a struggling economy ravaged by the Covid-19 pandemic.

Source: The Star August 26, 2020 00:56 UTC