KRA Misses Tax Target Again
The Kenya Revenue Authority (KRA) has missed the revenue collection tax again amid the government’s effort to maximize tax collection and cut down on foreign debts.
Stats from the taxman show that KRA missed the revenue collection target by 60.46 billion shillings for 3 months ended September this year.
The total revenue collected in 3 months was 320.311 billion shillings. This was against the 380.76 billion shillings that had been targeted by the National Treasury.
Despite being behind the target, the current collection was 15.38 billion shillings more than the 304.93 billion shillings raised during the same period in 2017.
KRA collected 159.11 billion shillings from income tax, missing the target by 32.02 billion shillings while Payroll taxes stood at 89.8 billion shillings missing the target by 7.15 billion shillings.
Corporation tax dropped by 24.87 billion shillings to stand at 69.31 billion shillings. VAT collection was at 92.64 billion shillings, short by 18.30 billion shillings from the target.
VAT on imports was at 40.59 billion shillings, off target by 10.29 billion shillings. VAT levies on local products were at 60.06 billion shillings, less 8.01 billion shillings from the target.
The excise duty stood at 42.8 billion shillings, 8.9 billion shillings less than what had been targeted. Duty on imports was the target by 1.24 billion shillings to stand at 25 billion shillings.
The Kenya Revenue Authority (KRA) has missed the revenue collection tax again amid the government’s effort to maximize tax collection and cut down on foreign debts.
Stats from the taxman show that KRA missed the revenue collection target by 60.46 billion shillings for 3 months ended September this year.
The total revenue collected in 3 months was 320.311 billion shillings. This was against the 380.76 billion shillings that had been targeted by the National Treasury.
Despite being behind the target, the current collection was 15.38 billion shillings more than the 304.93 billion shillings raised during the same period in 2017.
KRA collected 159.11 billion shillings from income tax, missing the target by 32.02 billion shillings while Payroll taxes stood at 89.8 billion shillings missing the target by 7.15 billion shillings.
Corporation tax dropped by 24.87 billion shillings to stand at 69.31 billion shillings. VAT collection was at 92.64 billion shillings, short by 18.30 billion shillings from the target.
VAT on imports was at 40.59 billion shillings, off target by 10.29 billion shillings. VAT levies on local products were at 60.06 billion shillings, less 8.01 billion shillings from the target.
The excise duty stood at 42.8 billion shillings, 8.9 billion shillings less than what had been targeted. Duty on imports was the target by 1.24 billion shillings to stand at 25 billion shillings.
