The Kenya Revenue Authority (KRA) has surpassed its monthly collection target for the fourth time in a row.
The tax man had set a target of KSh138 billion in March. According to a statement released on Saturday, KRA has collected KSh144.6 billion, which is the highest performance rate since the beginning of 2020/2021 financial year.
“This is an outstanding performance compared to the month of February when KRA collected KSh127.7 billion registering a performance rate of 105.1 per cent to surpass its February revenue collection target,” KRA said.
Despite the adverse effects of the COVID-19 pandemic on the economy, Kenya’s revenue growth stands at 11.2%, which is also the highest improvement consistently since December 2020.
PAYE remained the highest income generating source for the authority, with an outstanding performance rate of 110.7% bringing in KSh34.595 billion, which was higher by KSh3.339 billion of the March target.
The Customs & Border Control (CBC) Department was notably the most improved in revenue collections, bringing in KSh60.751 billion, with a performance rate of 131.1 per cent, the second highest monthly collection in history.
In February, the CBC department collected KSh51.3 billion, with a growth rate of 24.9 per cent.
Other departments such as the Domestic Tax collected KSh83.378 billion, its performance rating at 91.4 per cent.
The Withholding Tax department recorded KSh9.418 billion, enjoying a growth rate of 15.4 per cent, with Domestic Excise Duty recording KSh4.521 billion (a 61.9 per cent performance).
KRA attributed the growth in revenue collections to improved customer services, and enhanced compliance to payment of taxes.
As the close of taxation filing approaches its close on June 30, 2021, the authority reminded taxpayers to file their returns in time.
“The filing for the 2020 year of income is on, having kicked off on January 1. All annual tax returns for both individuals and entities from January to December 2020, should be submitted online on the iTax platform on or before June 30,” KRA said.