The National Treasury records reveal that Kenya Revenue Authority (KRA) missed half year revenue targets by Ksh88.3 billion.
In the first six months of the 2019/2020 financial year, KRA netted Ksh857.8B with income tax recording the biggest miss of Ksh25.9 billion.
However, the collections to December 2019 were 18.8 per cent higher than the Ksh722.3 billion collected by December 2018.
Moreover, the Treasury projects KRA will raise Ksh1.8 trillion by June up from the Ksh1.58T collected in FY2018/2019.
In 2019, there were massive layoffs and firms announced profit warnings probably explaining the shorfall in revenue targets.
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Furthermore, the Treasury spent Ksh1.14 trillion on recurrent and development expenditure by December 2019 against the projected expenditure of KSh1.3 trillion.
Excise tax contributed Ksh103.3 billion, Value-added-tax (VAT) gave the taxman Ksh211.5 billion, while other revenues such as fines and fees contributed Ksh123.9 billion.
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