AfricaPress-Kenya: The Kenya Revenue Authority (KRA) has recorded the highest performance this financial year after collecting Sh144.6 billion in March. It surpassed its revenue target by Sh6.6 billion.
Commissioner General Githii Mburu said this was the best performance this financial year. ”This is an outstanding performance compared to February when KRA collected Sh127.7 billion registering a performance rate of 105.1 per cent to surpass its February collection target,” he said in a statement.
This was the fourth month in a row that KRA posted an improved and above target performance since December 2020, enhanced by the sustained implementation of compliance efforts, revenue enhancement initiatives, and improved service delivery to taxpayers.
In the fourth month running, Customs and Border Control continued to post good performance – achieving a growth of 47.3 per cent with a revenue collection of Sh60.751 billion.
This was the second-highest monthly collection in its history. ”It is an improved performance compared to February when Customs and Border Control collected Sh51.3 billion, reflecting a growth of 24.9 per cent,” he said.
Customs and Border Control revenue surplus hit Sh14.409 billion in March 2021, a performance rate of 131 per cent. Domestic Taxes registered a performance rate of 91.4 per cent after collecting Sh83.378 billion.
The performance was largely affected by corporation tax which registered a decline of 35.2 per cent, driven by a decline of 62.8 per cent in the ICT sector.
Pay as You Earn (PAYE) registered 110.7 per cent growth to net Sh34.60 billion, boosted by public sector collections.
Withholding tax registered a 15.4 per cent growth with a collection of Sh9.42 billion. Domestic Excise Duty increased by 61 per cent – netting Sh4.52 billion.
Domestic Value Added Tax amounted to Sh17.017 billion – 4.2 per cent growth compared to 1.6 per cent growth in February.