Taxman exceeds revenue target to collect Sh964 billion

Kenya Revenue Authority Commissioner-General John Njiraini says the taxman was able to raise Sh100m more due to reforms in taxation. [PHOTO: JENIPHER WACHIE/STANDARD]

The Kenya Revenue Authority (KRA) has managed to surpass its revenue collection target by a modest Sh100 million, despite a difficult 2013/2014 fiscal year. The taxman exceeded the target, even after revising downwards the initial targets for the period, owing to low economic growth forecast and depressed import trends last year.

Data released by the authority yesterday shows the taxman collected Sh963.8 billion against a newly set target of Sh963.7 billion. This is due to lower than expected performance of the economy, which wiped out over Sh12 billion worth of projected revenue collections. The original annual revenue collection target for the fiscal year 2013/2014 was fixed at Sh973.5 billion.