KRA surpasses revenue target by Sh100 million

NAIROBI, KENYA: Kenya  Revenue Authority (KRA)  surpassed its revised revenue targets for the just concluded 2013/2014 financial year  by Sh100 million.

The taxman collected Sh963.8 billion against  a  new target of Sh963.7 billion which had been revised downwards owing to low economic growth forecast for the year  2013 and depressed import trends during the period.

The original annual target for the 2013/2014 financial year  was fixed at Sh973.5 billion.

The revised target represents a growth of 20.4 percent over the previous year’s (2012/2013) actual revenue collection of Sh800.5 billion.

Commissioner General John Njiraini attributed the improved revenue performance to  reforms in the Value Added Tax (VAT) department  whose contribution to total collection increased to 24.2 per cent from 22.9 per cent in the previous (2012/2013) fiscal year.