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Kenyan Treasury Reduces Annual Revenue Target by 5%

January 8, 2019 12:19 AM / by samrack

Kenyan Treasury Reduces Annual Revenue Target by 5%

The Ministry of Treasury has reduced the country’s revenue target for this fiscal year by 5 per cent to Ksh1.61 trillion. This is the second year in a row the country is revising its tax goal downward.

Through a Gazette notice, Cabinet Secretary for National Treasury Henry Rotich said that the Kenya Revenue Authority initially sought to raise Ksh1.69 trillion in the 2018/2019 fiscal year.

KRA collected Ksh1.37 trillion in the 2017/2018 period, Ksh45 billion shy of its Ksh1.415 trillion target.

Tax income rose 9.2 percent to Ksh555.7 billion in the five months through November, according to the notice.

Kenyan Treasury Reduces Annual Revenue Target by 5% Reviewed by samrack on January 8, 2019 .

Kenyan Treasury Reduces Annual Revenue Target by 5% The Ministry of Treasury has reduced the country’s revenue target for this fiscal year by 5 per cent to Ksh1.61 trillion. This is the second year in a row the country is revising its tax goal downward. Through a Gazette notice, Cabinet Secretary for National Treasury Henry