The Kenya Revenue Authority (KRA) stated that for the fiscal year that ended on June 30 it had collected the highest taxes ever.
The taxman made the record-breaking announcement in a statement that total revenue had surpassed Ksh2 trillion.
For the 2021–2022 fiscal year, the authority collected Ksh 2.031 trillion compared to Ksh 1.669 trillion the previous year.
“The authority registered an above-target stellar revenue performance after exceeding the fiscal year target as stated in the Budget Policy Statement. KRA surpassed the original target of Ksh1.882 trillion and two other upward revenue target revisions of Ksh1.911 trillion, which was later revised to Kshs1.976 trillion. This is the first time it has surpassed its original target in 14 years (since FY 2007/08),” the taxman stated.
KRA reported yet another milestone when compared to the 2011–12 fiscal year, when levy collections were at Ksh707.36 billion.
It exceeded the domestic tax goal of Ksh1.267 trillion by Ksh30.44 billion, marking a performance percentage of 102.4 percent.
Additionally, by Ksh25.7 billion more than expected, Customs and Border Control surpassed their Ksh702.8 billion goal w hile non-petroleum taxes rose by 20.7 percentage points with petroleum taxes climbing by 9.4%.
It provided an explanation for the increase and noted that the performance was in line with the current economic indicators, which predicted a 5.9% increase in the Gross Domestic Product (GDP). It also acknowledged internal changes as the cause of the development.
“The performance is further anchored on the ongoing transformation at the authority including the implementation of a high-performance culture with stringent performance accountability as well as strict enforcement of tax laws in the fight against tax evasion,” read part of the statement.