2 weeks Ago
The Kenya Revenue Authority (KRA) has achieved a significant milestone by surpassing the Ksh1 trillion mark in revenue collection for the first five months of the 2024/25 financial year. In a statement on Monday, December 9, KRA confirmed that it achieved this milestone on November 30, several days earlier than the previous financial year’s achievement, which occurred on December 7, 2023. the statement read.
The report highlighted a 4.3% growth in revenue collection during the first five months of the financial year (July to November) compared to the same period last year when revenue totaled Ksh963.746 billion.
KRA also reported that it collected Ksh643.790 billion in domestic taxes between July and November 2024. This represents a 3.
5% growth from Ksh621.984 billion collected in the same period last year. The tax authority has set a target of collecting Ksh2.
704 trillion by the end of the 2024/25 financial year. KRA indicated. Customs revenue has also played a vital role, with KRA recording monthly collections of over Ksh70 billion from August to November 2024.
The total customs revenue amounted to Ksh359.571 billion, marking a 5.9% increase from the previous financial year.
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