Browsing: Tax revenue collection

• KRA commenced the new financial year on an upward trajectory after surpassing its July – September 2021
• Customs & Border Control (C&BC) collected KSh 57.374 Billion against a set target of KSh 51.200 Billion

Kenya Revenue Authority (KRA) collected KSh154.383 Billion in the month of October 2021 against a target of KSh142.285 Billion, recording a performance of 108.5% and a growth of 23.2%.

This follows a similar positive performance of Quarter Two of the Financial Year 2021/22.

KRA commenced the new financial year on an upward trajectory after surpassing its (July-September 2021) target of KSh461.653 Billion by KSh15.053 Billion, recording a 30.0% growth.

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This implies that cumulatively KRA realized collections of KSh 631.090 billion for the period July – October 2021 against a target of KSh 603.939 billion, translating to a performance rate of 104.5%, a growth of 28.3% and …

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a loan of $4.25 million to the Lesotho Revenue Authority to provide digital tax services, including e-taxation and e-payment, that will broaden the country’s tax base and boost government revenue.

The funds, to be sourced from the African Development Fund, the Group’s concessional lending window, will go to support the Supplemental Financing of the Lesotho Tax Modernization Project. The project follows the Lesotho Tax Modernization Project (LTMP) approved in November 2017, and for which the African Development Bank Group provided $7.09 million, in financing.

Specifically, financing will be used to procure and install e-taxation, e-payment, and e-invoicing software and hardware and to integrate financial institutions and mobile money providers into e-payment systems.

“The project will allow broadening of the tax base through simplifying and streamlining the tax regime and procedures for the small business and …

Tanzania’s ministry of finance revealed on Wednesday, that it was exploring various techniques, including fostering supervision of the use of Electronic Tax Stamps (ETS).

This is part of the government’s plans to raise revenue collections and speed up the process of creating an enabling environment for Tanzania’s industrialization journey, according to information from The Citizen.

It is another step taken by the Tanzanian government to enhance revenue collection to fund various development projects, as frequently rallied by the Tanzanian President John Magufuli.

Just last year, Tanzania Revenue Authority (TRA) collected over $ 735 million in taxes in September 2019, the highest amount ever collected since the entity inception in 1996.

Tanzania’s Finance and Planning minister, Dr.Philip Mpango, presentation on the government’s development plan and budget framework estimates for 2020/21 financial year, revealed that Tanzania has experienced a significant rise in revenues during the first seven months of the 2019/2020, but …