The Kenya Revenue Authority (KRA) says it has collected Ksh 1, 005, 183,000,000 in five months of the current fiscal year between July and November.
The collection represent 37.2pc of the 2.704 trillion target KRA is expected to collect in the current financial year
The milestone is 4.3pc higher when compared to Ksh 963.75 billion collected over the same period last year.
According to the authority, the revenue growth was supported increase in customs and domestic taxes which surged between July and November though revenue performance was hurt by contraction in economic activities.
“In spite of the progressive growth, the collection was affected by various economic indicators that directly drive revenue collection. The various indicators that significantly impact on revenue performance have generally moved contrary to expectations, with adverse impact on revenue mobilization,” said KRA.
Customs revenue grew by 5.9pc to Ksh 359.6 billion from 339.68 billion while domestic taxes rose by 3.5pc to Ksh 621.98 billion.
KRA says it targets to collect Ksh 2.704 trillion by the end of Financial Year 2024/2025.
“KRA is confident that it will continue with the upward trajectory and achieve the set target to enable the government sustain the country’s economy,” KRA added.
