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KRA Targets Mobile & Bank Data to Maximize Tax Compliance

samrack by samrack
October 2, 2018
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, People, Politics, U.S Diaspora
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KRA Targets Mobile & Bank Data to Maximize Tax Compliance
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Kenya Revenue Authority Headquarters, Times Tower, along Haile Selassie, Nairobi. TWITTER

KRA Targets Mobile & Bank Data to Maximize Tax Compliance

  • The taxman now wants to track individual mobile and bank transactions in an effort to raise more tax from as many people as possible.Kenya Revenue Authority (KRA) plans to acquire Kenyans’ financial data in order to try and match the amount and volume of bank transactions to their respective holder’s profession such as doctors, teachers and even informal sector players like transport Industry and suppliers.According to the Authority, only 4 million people in a country of 18 million eligible voters regularly pay taxes and so they are seeking to raise Ksh 60 billion from an additional 0.5 million Kenyans.
    Kenya Revenue Authority tax support officer

    This mandate has been added on to that of KRA with the hope that the country can raise more revenue, especially with the continuously increasing budget deficit.

    During the launch of the annual Taxpayer’s Month in Nairobi on Monday, Commissioner General John Njiraini stated that their new approach, which they have christened “Data Driven Compliance”, is meant to accomplish three things; help optimize compliance, audit intervention and assure objectivity with taxpayers.

    KRA aims to maximize on presumptive tax which was introduced in Kenya to replace Turnover Tax (TOT) and is based on available records and facts such as bank and mobile account status.

    This new tax method, which takes full effect in January 2018, will be calculated at 15% of the business permit or the trading license fees.

    Mr. Njiraini further added that the new tax framework will significantly reduce taxpayer dispute and cutback tax-related lawsuits.

    “Our revamped tax dispute resolution programme will provide taxpayers with a credible, transparent and customer-friendly process that removes perceptions of unfairness and underhand dealings in the resolution of tax disputes,” he noted.

    The revenue authority has repeatedly under-met its tax collection target with Ksh204.7 million achieved in the first quarter of this year against a target of Ksh1.6 trillion.

    KRA is now experiencing mass staff exits citing pressure to meet unrealistic targets. They’ve now appointed former Chief Justice Willy Mutunga as a Tax Ambassador

    Former Chief Justice Willy Mutunga was Appointed KRA Tax Ambassador

 

 

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