This is part of the taxman’s three-year corporate plan in which it intends to collect Sh6.8 trillion from Kenyans. It is not clear how many super-rich individuals Kenya has with estimates from various reports differing. A report by the Swiss-based financial conglomerate Credit Suisse showed that the number of super-rich Kenyans shot up to 27,473 last year. The report shows that most of the country’s super-rich have put their wealth in real estate, with a few being stashed in government securities. Also as part of the plan, KRA has come up with a department to monitor the activities of taxpayers online in what is aimed at profiling Kenyans to net tax cheats.

Source: Standard Digital July 14, 2021 06:33 UTC