• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Wednesday, March 3, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

KRA Surpasses January Revenue Target by Ksh 3.53 B

Mwakaneno GakwelibyMwakaneno Gakweli
February 9, 2021
in Kenyan News, Public Policy
Reading Time: 2 min
KRA

The Kenya Revenue Authority’s revenue collection for January topped its target by 102.6%, collecting Ksh 142 billion against KSh 138 billion.

KRA attributes the revenue growth to an improvement in the economy, and the relaxation of COVID-19 containment measures, such as reversal of tax measures set to cushion individuals and businesses from the effects of the COVID-19.

Collections from the Customs and Border Control (C&BC) department collected Ksh 54.919 billion. This is thanks to a higher daily average in non-oil revenues, which surged to Ksh 1.727 billion from Ksh 1.744 billion. Simultaneously, exemptions and custom remissions fell by 4.8%, improving revenues by 283 million. In December 2020, the tax agency collected Ksh 60.777 billion through its C&BC department.

ADVERTISEMENT

Domestic taxes improved by 6%, at a performance of 97.1% compared to 91.1% in December 2020. Excise duty grew by 42.8%, collecting Ksh 3.422 billion while withholding tax surpassed its target by Ksh 386 million, an 8.2% growth.

PAYE recorded a 98.6 performance, still recovering from the reduction from 30% to 25% and 100% remission for personal income below Kshs 24,000 per month.

The corporate tax revenues increased by 44.4%, exceeding their monthly target by 19.4%, compared to a 6.5% shortfall in December 2020.

VAT Remittances grew by 8.5%, compared to a 19.8% decline in December 2020, expected to grow further as businesses convert purchases into sells,

KRA is optimistic that the 6.4% economic growth forecast will boost revenues. Meanwhile, the tax agency will ramp up enforcement efforts on the digital tax, minimum tax, and voluntary tax disclosure program.

SEE ALSO: KRA’s December Revenue Collection Exceeds Target by KSh 2 Billion



Hisa App
Previous Post

Bitcoin Tops $44,000 As Tesla Reveals $1.5 billion Holdings

Next Post

Global; US Stock Market Hits record highs, Geopolitics, BTC, Stimulus Progress

Related Posts

Kenya Power to Install Charging Points for Electric Cars Countrywide

Kenya Power to Install Charging Points for Electric Cars Countrywide

March 3, 2021
US Trade Rep Nominee promises to review US-Kenya Trade Deals

US Trade Rep Nominee promises to review US-Kenya Trade Deals

March 3, 2021

NSE Derivatives Market Data goes live

March 3, 2021

IMF Raises Kenya’s Economic Growth Forecast for 2021 to 7.6%

March 3, 2021

Central Bank to Tighten the Noose on Predatory Mobile Moneylenders

March 3, 2021

Britam Announces Organisational Restructure Targeting Executive Team

March 1, 2021

Astral Aviation, Kenyan Carrier eyes Middle East Cargo business

March 1, 2021

Kenya’s February Inflation Rises to Nine-Month High

March 1, 2021
Load More
Next Post
US Global Stock Markets - EPA-EFE/JUSTIN LANE

Global; US Stock Market Hits record highs, Geopolitics, BTC, Stimulus Progress

Follow Us

  • 7.1k Fans
  • 113.6k Followers
  • 2.4k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Gamestop

Can the Gamestop Situation Happen in Kenya?

February 21, 2021
Hisa App

Announcing Hisa App Public Beta Launch

February 20, 2021
Absa Kenya CEO Jeremy Awori

Absa Marks One Year Since Transition, Commits KSh1.6 Billion into Digital Products

February 11, 2021
NSE Derivatives

How To Make Money Trading Derivatives In Kenya

February 9, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?