KRA tipped to miss revenue target by Sh60 billion

Port workers offload duty-free sugar from Brazil earlier this year. Tax waivers on such commodities have eaten into the country's custom duty. [Gideon Maundu, Standard]

The National Treasury has cut back tax revenue projections by Sh60 billion in the wake of subsidies introduced this financial year.

Treasury in its latest projection expects Kenya Revenue Authority (KRA) to now raise Sh1.439 trillion, down from Sh1.499 trillion spelled out in the budget.