[Wilberforce Okwiri, Srandard]Kenya Revenue Authority (KRA) collected Sh89.6 billion less in January compared to the same period in 2020. “Going forward, we expect revenue collection in the FY2021-22 to spring back buoyed by the improving economic environment, tax policy and revenue administration measures that we have put in place,” said National Treasury Cabinet Secretary Ukur Yatani. Nonetheless, Treasury expects tax revenues to recover as economic activities pick after the containment measures against the spread of Covid-19 were relaxed. Increase in tax collection is one of the conditions that informed the approval by International Monetary Fund of a crucial Sh261 billion credit facility for under a three-year programme. This saw the government increase its tax collection target by Sh11.2 billion, with KRA now expected to mobilise Sh1.775 trillion in taxes in the 12 months to June next year.

Source: Standard Digital February 19, 2021 21:00 UTC