The Kenya Revenue Authority (KRA) has reported a significant increase in revenue collection for the recently concluded fiscal year, reaching Ksh 2.407 trillion, up from Ksh 2.166 trillion in the 2022/23 financial year.
In addition to this achievement, KRA welcomed 1.2 million new taxpayers and processed eight million tax returns. Deputy President Kithure Kindiki praised these accomplishments, noting that KRA exceeded its revenue target by 26 percent.
He stressed the importance of tax compliance for national development and welfare, stating, “All Kenyans have a responsibility to pay taxes. This requires us to continually innovate and adopt client-friendly revenue mobilization strategies while ensuring the prudent management of taxpayer resources.”
Kindiki joined President William Ruto in celebrating Taxpayers Day 2024 at State House, Nairobi, where they also launched the 9th Corporate Plan and the Application Programming Interface (API) Platform.
The 2023/24 fiscal year posed several challenges for revenue collection, including the depreciation of the Kenyan Shilling against the US Dollar, rising bank lending rates, and international conflicts that disrupted supply chains.
