KRA records growth in revenue collection

By Peter Ochieng

The Kenya Revenue Authority (KRA) says it has maintained an upward trajectory in revenue collection, in the last five years.

KRA recorded a 6.7% growth in the financial year 2022/2023, which signifies a performance rate of 95.3 per cent against the target despite an economic slowdown occasioned by unfavourable global fiscal environment.

This means KRA increased revenue collection from Sh1.58 trillion in FY2018/2019 to Ksh2.166 trillion in FY2022/23, agrowth of 37% in the last 5 years.

"This is the second year in a row that KRA has surpassed the two trillion mark," the authority said in a statement.

"Domestic taxes collected Sh1.407 trillion against a target of Sh1.481 trillion while Customs and Border Control (C&BC) collected Sh754.020 billion. This translates to a revenue growth of 8.5% and 3.5% respectively compared to the same period in FY 2021/2022."

"KRA appreciates all compliant taxpayers for honouring their tax obligations and their contribution towards furthering Kenya’s economic sustainability through registration, filing, accurate reporting and paying their fair share of taxes," said KRA commissioner general Risper Simiyu.

The revue streams were improved by stellar performance from the betting sector.

"Excise on betting registered a stellar performance rate of 116.6% after collecting Sh6.665 billion against a target of Sh5.715 billion. The performance is attributed to the integration of the betting companies into the KRA tax system which has streamlined tax remittance from the sector and scaled up revenue collection."

Additionally, Pay As You Earn (P.A.YE) collected Sh494.979 Billion.

The performance was mainly driven by remittance from private firms and public sector which grew by 10.7% and 1.9% respectively.