KRA Surpasses Revenue Collection Target for Fourth Consecutive Month

The Kenya Revenue Authority (KRA) has exceeded its monthly collection target for the fourth consecutive month even as the country continues to grapple with the adverse effects of the COVID-19 pandemic on the economy. 

The taxman was targeting Sh138 billion in March 2021 but netted Sh144.6 billion, the highest collection since the start of the 2020/2021 financial year.

The amount represents an 11.6 percent growth in revenue compared to the previous month attributed to improved customer services and enhanced compliance to payment of taxes.

“This is an outstanding performance compared to February when KRA collected KSh127.7 billion registering a performance rate of 105.1 percent to surpass its February revenue collection target,” KRA said in a statement on Saturday.

PAYE retained its place as the highest income generating source, with an exceptional performance rate of 110.7 percent having brought in Sh34.595 billion in the month.

The Customs and Border Control (CBC) Department, which generated Sh60.751 billion, was the most improved in revenue collections with a performance rate of 131.1 percent. The CBC department collected Sh51.3 billion in February, a growth rate of 24.9 percent.

The Domestic Tax Department collected Sh83.378 billion, Withholding Tax Department (Sh9.418), and Sh4.521 billion from the Domestic Excise Duty.

KRA has reminded taxpayers to file their returns in time ahead of the June 30th deadline.

“The filing for the 2020 year of income is on, having kicked off on January 1. All annual tax returns for both individuals and entities from January to December 2020, should be submitted online on the iTax platform on or before June 30,” KRA said.