KRA records Ksh.2.16 trillion in revenue collection marking 6.7% growth

According to a statement by KRA, the revenue performance was affected by the slowed domestic economic growth in 2022 which went down to 4.8 percent from 7.6 percent in 2021. 

KRA attributes the growth to good performance in various sectors of the economy including taxes on International Trade and Transactions, Excise taxes, Taxes on Income, Profits and Capital gains, Taxes on goods and services, and Property taxes.

During the financial year, Domestic Taxes registered a revenue growth of 8.5% after collecting Ksh. 1.407 trillion against a target of Ksh.1.481 trillion. This translates to a performance rate of 95.0 per cent.

Excise on betting registered a stellar performance rate of 116.2% after collecting Ksh.6.640 billion against a target of Ksh.5.715 billion. 

Domestic VAT collection stood at Ksh.272.452 billion reflecting a growth of 11.3 per cent compared to the previous year.

Corporation tax performed at 94.2% with a collection of Ksh.263.819 billion. This is a growth of 9.0 per cent over the last financial year. 

The tax head recorded a growth of 2.8% in FY 2022/23, with a collection of Ksh.68.124 Billion, which translates to a performance rate of 91.4%. 

On tax base expansion, KRA has collected an additional Ksh.14.64 billion recruiting 940,483 additional active taxpayers in the period under review.

KRA collected a total of Ksh.5.328 billion from digital business translating to a growth of 207.9% compared to the same period in financial year 2021/2022.

Revenue collection has progressively increased in the last 5 years from Ksh.1.58 trillion in FY2018/2019 to Ksh.2.166 trillion in FY2022/23, representing a growth of 37% in the last five years.