Boost for firms as KRA pays Sh4.7 billion tax refunds

Kenya Revenue Authority's Times Tower headquarters in Nairobi. Delays by the taxman to disburse tax refunds has seen firms incur losses as they absorb the taxes. [File, Standard]

The Kenya Revenue Authority (KRA) has paid out Sh4.7 billion in Value Added Tax (VAT) refunds to manufacturers in the last two months.

The taxman has also committed to paying a further Sh8 billion by the end of this month in what is expected to ease cash flow problems for struggling businesses amid a persistent credit crunch to the private sector.