October Tax Receipts Grow By 21% To Ksh.131.6 Billion

 

By Kepha Muiruri For Citizen Digital

October tax receipts as reported by the National Treasury have grown by 21.1 per cent to Ksh.131.6 billion from Ksh.108.7 billion at the same time last year.

This is according to data from the statement of actual revenues and net exchequer issues as of October 29 which were published in the Kenya gazette on Friday.

Non-tax revenues however continue to trail last year’s tally of Ksh.7 billion at Ksh.3.5 billion in October 2021.

The rise in tax receipts in the month of October mirrors the continued recovery of tax collected by the Kenya Revenue Authority (KRA) following initial disruptions from the COVID-19 pandemic.

Cumulatively, tax revenues through the first four months of the 2021-2022 fiscal year stand at Ksh.548.4 billion in contrast to Ksh.426.4 billion in the same period last year.

During the opening quarter of the fiscal year to September 30, tax receipts jumped by 31.2 per cent to reach Ksh.416.8 billion from Ksh.317.7 billion in the comparable quarter of 2020.

The gradual re-opening of the domestic economy from initial tough restrictions which restricted enterprise activity is credited with the bounce in tax receipts this year.

Collections this month are set to see a further boost from the recent lifting of the night time curfew which now allows businesses to operate within their pre-pandemic working hours.

In the year running to June 30, 2022, the tax man is tasked with raising Ksh.1.707 trillion in taxes to meet government spending in the fiscal period.