September 25, 2022

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KRA nets Sh154b in October on uptick

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The Kenya Revenue Authority (KRA) surpassed its October revenue collection target to net Sh154.383 billion against Sh142.285 billion, a 108.5 percent growth.

 The growth contributed to the exchequer’s Q2 (July-September 2021) growth in earnings for the current financial year, registering a jump of Sh476.706 billion during the quarter.

KRA had projected to collect Sh461.653 billion in the quarter under review.

Cumulatively the tax agency netted an impressive Sh631 billion in the four months to October 2021 against a target of Sh603.939 billion.

During the month under review, the authority says Customs and Border Control collected Sh57.374 billion against a set target of Sh.51.200 billion reflecting a performance rate of 112.1 per cent and a surplus of Sh.6 Billion.

Domestic Taxes on the other hand recorded a performance rate of 106.5 per cent with a collection of Sh96.616 billion, which is Sh5.9 billion more.

PAYE registered a collection of Kshs.37.001 billion against a target of Sh36.462 billion registering a performance of 101.5 percent.

It attributed the sustained strong performance to the improving global economic environment as well as the implementation of revenue enhancement initiatives by the Authority

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