KRA targets Sh1.1tr from 2,089 large traders.
The Kenya Revenue Authority (KRA) has targeted to collect Sh1.1 trillion from large taxpayers this financial year.
KRA commissioner general Humphrey Wattanga says this will be an improvement from Sh818 billion that large taxpayers contributed in revenue, representing a 9 per cent growth from the previous financial year.
According to Wattanga, the authority is banking on a relationship management framework to help facilitate contribution among the large taxpayers. Large taxpayers refers to those traders who accrue an annual income of up to Sh1.3 billion. Currently, Kenya has 2,089 traders who are registered as large taxpayers from various sectors of the country’s economy.
“At KRA, our commitment is not only to collect taxes but also to support you in upholding compliance, while efficiently contributing to our nation’s economic agenda,” Wattanga said.
To facilitate this, KRA has established a dedicated office for our large taxpayers known as the ‘Large Taxpayers Office’ (LTO), which will continue to engage and partner with you through a relationship management framework.
The government is banking on this revenue to stir growth through development projects in infrastructure, (Sh823 billion), education (Sh635 billion), micro, small and medium enterprises (MSME) (398 billion), healthcare (Sh259 billion), agriculture (Sh250 billion) in the next five years. This is estimated to cost Sh2.67 trillion.