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KRA surpasses 2021/22 H1 revenue target by Sh50bn

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NAIROBI, Kenya Jan 14-The Kenya Revenue Authority (KRA) surpassed its revenue performance in the first half of the Financial Year 2021/2022 after collecting Sh976.659 billion against a target of Sh929.127 billion thanks.

While attributing the good performance to increased tax compliance, KRA said it also surpassed both the overall and exchequer targets in December 2021 by Sh10.152billion and Sh8.257billion respectively.

During the first half of the Financial Year, customs revenue sustained its excellent performance after collecting Sh355.787billion against a target of Sh322.737billion reflecting a revenue surplus of Sh33.050billion.

KRA attributed customs revenue performance to 25.4 percent growth in trade taxes and 9.6 percent growth in petroleum taxes.

Trade taxes registered Sh233.165billion against a target of Sh208.411 billion registering a surplus of Sh 24.754billion while petroleum taxes amounted to Sh122.623billion against a target of Sh114.326billion posting a surplus of Sh8.296billion.

Domestic taxes performance improved, with a 30.8 percent growth compared to a similar period last year.

The Domestic revenue collection was at Sh618.312billion against a target of Sh603.870billion.

Pay As You Earn (P.A.YE) registered a performance rate of 105.7 percent in the first half after a collection of Sh221.328billion against a target of Sh209.339billion.

“The performance was mainly driven by gradual growth in employment and the emanating economic recovery,” KRA said.

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The Value Added Tax (VAT) collections amounted to Sh121.044billion against a target of Sh119.543billion, a 40.2 percent growth while corporation tax collection grew by 17.3 percent standing at Sh107.407billion.



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