- KRA also attributed the good performance to the implementation of eTims.
- The authority said the monthly average collection of VAT before eTIMS stood at Sh21 Billion.
Image: FILE
The Kenya Revenue Authority has recorded a revenue collection growth of 8.4 per cent in the first quarter of the FY 2023/2024.
This comes after KRA collected Sh586.9 billion in the period July-Sept 2023 compared to a collection of Sh541.6 billion during the same period last year
KRA in a statement said the revenue collection is attributed to the implementation of various strategies implemented by KRA including.
"The strategies include the real-time collection of taxes that have seen withholding tax and excise duty from betting and gaming companies grow by 67 per cent compared to last financial year," he said.
According to KRA, the rolling out of the tax amnesty programme has also enhanced collection after it collected Sh3.4 billion since September 1, 2023.
KRA also attributed the good performance to the implementation of eTims.
The authority said the monthly average collection of VAT before eTIMS stood at Sh21 billion.
KRA currently, after eTIMS, collects Sh26 billion (23.8 per cent growth) on a monthly basis and is expected to collect Sh312 billion by the end of FY 2023/2023.
KRA targets to collect Sh2.768 trillion by the end of the Financial Year 2023/2024 and surpass the Sh3 trillion mark by the Financial Year 2024/2025.
Appearing before a Parliamentary committee on Tuesday, KRA Commissioner General Humphrey Watanga said they are committed to achieving the targets.
He said if the required financial resources are availed to them, they will strive to ensure they get close to the target.
"We strive very hard to achieve these aggressive revenue targets. We are indeed committed to pushing very hard against these targets," Watanga said.
"We believe with the resources we need, if availed to us in a timely fashion, with leveraging and application of technology, we believe we will get very close to achieving these targets."