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The Kenya Revenue Authority (KRA) has achieved a significant milestone, surpassing the Sh1 trillion mark in revenue collection as of November 30, 2024.
The authority collected Sh1.005 trillion, marking an earlier achievement compared to the previous year when the same target was reached on December 7, 2023.
This represents a notable 4.3% growth in revenue collected during the first five months of the 2024/25 financial year, compared to Sh963.746 billion collected during the same period in 2023.
Domestic Taxes Performance
Domestic taxes have been a major contributor to this achievement.
Between July and November 2024, KRA collected Sh643.790 billion in domestic taxes.
This reflects a 3.5% increase from Sh621.984 billion collected during the same period in the previous year.
Customs & Border Control Performance
Another area of strength for KRA has been in customs revenue. The authority has recorded improved figures, with customs revenue exceeding Sh70 billion per month for four consecutive months between August and November 2024.
In total, KRA collected Sh359.571 billion in customs revenue between July and November 2024, marking a 5.9% increase compared to the same period last year.
This sustained growth is seen as a critical factor in supporting Kenya’s trade and border control measures.
Tax reforms
In 2024, the Kenya Revenue Authority (KRA) introduced several significant reforms aimed at enhancing tax compliance, broadening the tax base, and improving revenue collection.
The KRA has enhanced its technological capabilities through improved systems like iTax and Integrated Customs Management System.
This includes potential new systems designed to facilitate easier compliance for taxpayers.
KRA has also intensified taxpayer audits by increasing staff training and recruitment, aiming for more frequent compliance checks at business premises.