KRA collects Sh2.16T revenue, misses annual target by Sh107 billion

The Kenya Revenue Authority (KRA) has collected Sh2.166 trillion in revenue for the financial year ending June 30, an upward growth of Sh135 billion from the previous year.

Even so, the Authority missed its annual target by Sh107 billion.

“Despite an economic slowdown occasioned by an unfavourable global fiscal environment, KRA recorded a revenue collection of Sh2.166 Trillion for the period July 2022 – June 2023 compared to Sh2.031 Trillion in the last financial year. The collection for the financial year 2022/2023 was, therefore, higher than what was collected in the financial year 2021/2022 by Sh135 billion,” read their press release.

KRA said the revenue performance was affected by the slowed domestic economic growth witnessed in 2022 due to the effects of various factors including prolonged drought and international conflicts.

“The revenue performance was affected by the slowed domestic economic growth in 2022 which went down to 4.8 percent from 7.6 percent in 2021. This mirrors the World real GDP growth that decelerated to 3.4 percent in 2022 from a growth of 6.0 percent in 2021,” it was noted.

The taxman collected Sh2.030 trillion from the exchequer compared to Sh1.900 trillion collected in the FY 2021/22 indicating a 6.9 percent growth.

Sh136.390 billion was collected on behalf of government agencies in the financial year ending June 30 including Road Maintenance Levy, Air Passenger Service Charge, Aviation Revenue, Petroleum Development Fund amongst other levies; a growth of 3.7 percent compared to the last financial year.

Domestic taxes registered a revenue growth of 8.5 percent after collecting Sh1.407 trillion against a target of Sh1.481 trillion.

“Customs taxes recorded a performance rate of 95.6% with a collection of Ksh. 754.090 billion. This translates to a revenue growth of 3.5 per cent compared to the same period in FY 2021/2022. Despite overall import values increasing by 15.3%, Customs taxes performance was in part affected by growth in exemptions and remissions, which grew by 39.7%, driven by special exemptions accorded to rice, maize, sugar, and cooking oil. These products account for 24.8% of exemptions accorded in the FY 2022/2023. The special exemptions were part of the government’s strategies to mitigate against adverse effects of drought and to reduce the cost of living,” KRA said.

On betting, KRA collected Ksh. 6.640 billion against a target of Ksh. 5.715 billion; a performance rate of 116.2 percent.

“Excise on betting collected a surplus of Sh925 million and grew by 30.0% compared to the same period in FY 2021/2022. The performance is attributed to the integration of betting companies into the KRA tax system. The integration has streamlined tax remittance from the sector and scaled up revenue collection,” KRA Ag. Commissioner General noted.

Collection of domestic VAT stood at Sh272.452 billion, a growth of 11.3 percent compared to FY 2021/22 which was attributed to the implementation of the Tax Invoice Management System (TIMS).

“It is important to note that VAT growth scaled up to 18.0% in February – June 2023 upon implementation of Tax Invoice Management System (TIMS & eTIMs), from an earlier slower growth of 6.7% in the first 7 months of FY 2022/23. This performance is expected to be sustained in the coming year once full rollout of eTIMS is realised amongst the VAT-registered taxpayers,” KRA said.

Corporation tax collected Sh263.819 billion while Pay As You Earn (P.A.Y.E) collected Sh494.979 billion.

Further, domestic excise recorded a growth of 2.8 percent in FY 2022.23 with a collection of Ksh. 68.124 billion. The growth is attributed to the growth in revenue from Cosmetics (60.6% growth); Wines and Spirits (8.7% growth); Bottled Water (4.4% growth); Soft Drinks (8.0% growth); Beer (0.4% growth); and Tobacco (2.8% growth).

KRA attributed the revenue growth to the company’s implementation of key strategies including customer support programmes, tax base expansion, taxation of digital economy, tax at source, debt collection initiatives, dispute resolution framework and technology.

AM Live

AM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.

BNX

Business Redefined

Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.

Entertainment

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Full Episodes

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Gumzo La Sato

Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.

Health Diary

Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.

Letter To My Younger Self

Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.

Mazao Talks

Mazao looks at agriculture and agribusiness

Nation Reports

Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.

One Health Lens Podcast

Discussing health matters and human stories from Kenya and across Africa. We talk big picture from people to policy, ecosystems, and everything in between. Follow us on LinkedIn: https://www.linkedin.com/company/onehealthlens

Paradise Lost

Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.

Podcasts

Podcasts

Speaking of GEN Z

Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.

Sport On

Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.

Tech-over

The extent of technological growth is beyond mere acknowledgment; it has seamlessly integrated into our daily existence. A few years ago, the notion of paying electricity bills through mobile money or recharging with 'tokens' in Kenya seemed inconceivable. Online product sales were considered distant, and artificial intelligence is rapidly reshaping various facets of our lives. Amidst these technological leaps, those with a solid understanding of tech can navigate challenges, seize opportunities, and build a sustainable livelihood. Tech over Show aims to be the platform facilitating discussions among thought leaders, innovators, tech companies, and the government, addressing challenges and opportunities in Kenya's thriving tech industry.

Thamani

Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.

The Politalk podcast

This is The Politalk podcast. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.

The Trend

A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.

The trend podcast

The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA

The Wicked Edition

The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience

Trending

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Twende

Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.

Unscripted

This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.

VIP Access

VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.

WADR

This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.

When death do us part

In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.

Your World

Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.