Connect with us

Hi, what are you looking for?


KRA collects Sh124.7Bn in January but falls behind in 6-month target

NAIROBI, Kenya, Feb 26 – The National Treasury has reported revenue collection of Sh124.71 billion in the month of January bringing the total revenue collection to Sh781.6 billion for the seven months from July 2017.

The government had targeted to collect Sh701.7 billion in the first six months but has fallen short of the target by Sh45 billion due to the underperformance of excise duty, VAT Imports, and PAYE.

In a statement of revenues and expenditure published in a gazette notice, the Government borrowed Sh166.43 billion from the domestic market while also receiving Sh10.7 billion in form of a commercial loan out of Sh250 billion it intends to borrow.

In terms of disbursements, recurrent expenditure as at end January 2018 stood at Sh505.77Bn – 53.8pc – while development spending lagged behind with a 31.41pc absorption rate

During the same period, the national government disbursed a third of the Sh306 billion designated for county governments with Nairobi and Mombasa counties receiving Sh8.7 billion and Sh3.6 billion respectively.

KRA has outlined measures to boost revenue mobilization including a complete overhaul of the current Income Tax Act, strengthening tax administration and expansion of the tax base.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...