KRA tax revenues cross Ksh.1 trillion mark

The receipts as reported by the National Treasury stood at Ksh.1.011 trillion as of January 31, compared to receipts totalling Ksh.784.9 billion at the same stage in 2021.

January tax receipts meanwhile were 28.3 per cent higher than last year at Ksh.142.8 billion in contrast with Ksh.111.3 billion previously.

The continued rise in receipts mirrors the normalisation of tax collected by the Kenya Revenue Authority (KRA) after the end of most COVID-19 restrictions which has allowed for the restoration of economic activity.

Meanwhile, non-tax receipts in the seven months stand at Ksh.42.3 billion but trail last year’s tally of Ksh.55.1 billion.

Tax receipts have maintained double-digit growth in recent months to further reflect improved collections.

So far, KRA has met 59.2 per cent of its projected Ksh.1.707 trillion full-year receipts.

This leaves a balance of Ksh.696 billion to be collected in the next five months to June.

To hit the bullseye, KRA would need to collect an average of Ksh.139.2 billion monthly.