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 15.3% growth. The growth is attributed to the implementation of the Electronic Tax Invoice Management System (eTIMS).

4. Domestic VAT average monthly collection stood at Kshs. 23.559 Billion in the first half of FY 2022/23, before increasing to monthly average of Kshs. 26.250 Billion in the second half of FY 2022/23 when eTIMS rollout was scaled up. Currently, monthly average domestic VAT collections stand at Kshs. 28.680 Billion in FY 2023/24.
5. Domestic Excise grew by 8.1%, collecting Kshs. 73.624 Billion, with strong performance from manufacturers of soft drinks, bottled water, beer, and tobacco.
6. Capital Gains Tax registered a 49.5% growth, collecting Kshs. 8.381 Billion against a target of Kshs. 7.710 Billion, a performance rate of 108.7%. Corporation tax grew by 4.9%, collecting Kshs. 278.156 Billion.
7. P.A.Y.E grew by 9.7%, collecting Kshs. 543.186 Billion, driven by remittances from private firms and the public sector.
8. Customs Revenue: Non-oil taxes recorded a growth of 1.9% after collecting Kshs.490.60 Billion. On the other hand, Oil taxes grew by 10.3% after collecting Kshs. 300.77 Billion.



Through the tax amnesty program, KRA collected Kshs. 43.9 Billion. This is after 2,617,111 taxpayers were granted amnesty in the Financial Year 2023/2024.
As at 30th June 2024, 8,046,029 taxpayers filed their annual returns. This represents a growth of 26% compared to the 6,385,523 taxpayers who filed their returns last year.

To enhance revenue mobilization, KRA will implement the 9th Corporate Plan, focusing on compliance, process simplification, tax base expansion, infrastructure scaling, data management, and optimizing human resources.

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