KRA ANNOUNCES MAJOR BREAKTHROUGH IN REVENUE COLLECTION

The Kenya Revenue Authority reported a major breakthrough in its revenue collection which they say hit 132.1 billion shillings. According to KRA, April’s strong performance is a continuation of the trend witnessed in the second half of the 2015/2016 financial year, with the cumulative growth for 10 months to April standing at 12.1 percent.

KRA added that highest monthly collection ever is remarkable given that bank remittances in April 2016 stood at sh11.4 billion compared to sh12.3 billion in April 2015, a decline of 8 percent attributable largely to bad loans provisioning.

KRA’s Commissioner General John Njiraini says bank remittances in April 2016 stood at sh11.4 billion compared to sh12.3 billion in april 2015, a decline of 8 percent. The increase in the amount of revenue collected is despite the weak performance in the banking sector during the period.

KRA Commissioner General John Njiraini
KRA Commissioner General John Njiraini

Cumulative revenue collection to April 2016 stood at sh974.5 billion, marking a sh105.4 billion increase over the same period the previous financial year.customs and border control however marked weak performance.