Kenya's private sector condemns misuse of public money
SEE ALSO :Kenya's best job and business creatorsThe joint Kepsa and the Kenya Revenue Authority (KRA) tax round table forum brought together business leaders and stakeholders’ drawn from the private sector to deliberate on the prevailing tax policy and related concerns. The forum also provided a platform for KRA to update KEPSA members on developments relating to tax compliance and policy matters. Some of the areas covered included how to increase revenue collection and expand the tax base without overburdening the current tax payers, enhancing regional and cross border trade competitiveness, creating changes within the current tax regimes and establishing partnerships in improving compliance. Taking note of the Kepsa Chairman Nick Nesbit presentation, the roundtable called for adoption of a win-win approach to tax enforcement based on taxpayers’ collaboration rather than coercion as such a model will promote tax payment and strengthen KRA’s capacity to meet its targets. The forum appreciated that KRA-notwithstanding the limited National Treasury funding of Sh1.2b monthly against monthly refunds applications of Sh2.36 billion has made progress on the VAT refunds issue and has already paid out Sh14.2 billion paid in financial year 2018/19 and a further Sh 6.2billion was paid between July and October 2019. KRA has also established a Project team to facilitate the clearance of 6,000 VAT refund cases worth Sh27.6 billion outstanding as at 31.10.2019, possibly by April next year.
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