NAIROBI, Kenya – The Kenya Revenue Authority (KRA) has reported a remarkable growth in revenue collection, achieving Sh 2.407 trillion for the Financial Year 2023/2024.
This marks an 11.1p.c increase from the previous year’s collection of Sh 2.166 trillion despite facing significant economic challenges.
KRA successfully collected Sh 2.407 trillion, with a performance rate of 95.5p.c, comes against the backdrop of a challenging economic environment.
The past year has seen the Kenyan shilling depreciate, bank lending rates rise, and international conflicts disrupt supply chains, all of which have impacted revenue mobilization efforts.
KRA’s revenue collection is divided into Exchequer and Agency revenues. Exchequer revenue, directed to the National Treasury, grew by 9.5p.c to Sh 2.223 trillion with a performance rate of 95.8p.c.
Agency revenues collected by other government agencies amounted to Sh 184.036 billion, reflecting a growth of 34.9p.c.
As of June 30, 2024, 8,046,029 taxpayers had filed their annual returns, representing a 26p.c increase from the previous year.
KRA is set to implement its 9th Corporate Plan, which will focus on compliance, process simplification, tax base expansion, infrastructure scaling, data management, and optimizing human resources.
