Major income generators from the Kenya Revenue Authority (KRA) recorded slow development in the past financial year.
According to the financial report of the taxman 2018/2019, national tax revenue has risen as one of the major tax industries.
Domestic Tax Heading, which rose by 12.3%, is a volume-driven tax and depends on cigarette and beer volume development. Thus, growth was explained mainly by slow volume growth in cigarettes and composition in beer deliveries, “said General Githii Mburu, commissioner of KRA.
Growth in the withholding of VAT and growth in the withholding of the government industry also clarified national VAT development, which rose by 12.1%.
Non-oil revenues also grew by 11.6 percent during the financial year with a favorable impact of S38.217 million.
On the other hand, corporate tax grew by at least 5.5% in the last economic year despite being undermined by a 284% increase in investment deductions compared to 2017/18.
Commissar General Githii Mburu of KRA added that during the fourth quarter the industry was able to experience some modifications that stimulated development.
“In the fourth quarter, the tax head witnessed a turnaround, growing at 12.0 percent compared to an average of 1.8 percent over the first three ISO 9001:2015 CERTIFIED quarters,” Mburu said.
This was ascribed to the change in the performance of the bank