CS Rotich banks on new taxes to bridge Sh28b revenue shortfall

A greengrocer at a stall in Nairobi. Among the new raft of taxes is a presumptive tax targeting small traders that kicked in on January 1 this year. [Photo: Standard]

Treasury is banking on new taxes to bridge a deficit of Sh28 billion in revenue collection by the taxman in the first half of the current financial year.

The Kenya Revenue Authority fell short of its target in the first five months of last year after poor performance in excise taxes and import duty, according to National Treasury Cabinet Secretary Henry Rotich in the Draft 2019 Budget Policy Statement (BPS).