KRA RECORDS 11.1% GROWTH IN REVENUE COLLECTION.
Despite a challenging economic environment,where the year faced economic shocks like shilling depreciation, rising bank lending rates, and international conflicts disrupting supply chains, impacting revenue mobilization efforts, KRA has recorded Kshs. 240 Billion Growth in Revenue Collection. KRA collected Kshs. 2.407 Trillion for the Financial Year 2023/2024, compared to Kshs. 2.166 Trillion that was collected last year. This represents a growth of 11.1% and a performance rate of 95.5%; 1.Domestic Taxes registered a 14.4% revenue growth, collecting Kshs. 1.611 Trillion against a target of Kshs. 1.677 Trillion, a performance rate of 96.1%. 2. Customs collected Kshs. 791.368 Billion, a 4.9% growth. Customs performance was affected by exemptions on certain food commodities and low consumption of petroleum products, with exemptions growing by 23.8%. 3.Domestic VAT collection stood at Kshs. 314.157 Billion against a target of Kshs. 307.823 Billion, reflecting a...