Nairobi, Sept. 9 -- Tax revenue from company earnings surpassed the Treasury's revised targets by 7.37 percent in the year ended June, buoyed by economic recovery in the second half and inflows from halted Covid-19-related tax reliefs.
The Kenya Revenue Authority (KRA) collected nearly Sh330.71 billion in corporate tax in the review period, exceeding the goal for the fiscal year by Sh22.69 billion, an analysis of the latest revenue filings by the Treasury shows.
The budgetary review report indicates taxes remitted by firms in the January to June 2021 period grew 19.59 percent year-on-year to Sh174.09 billion, a turnaround from the first half through December 2020 when the receipts fell 3.42 percent to Sh156.62 billion when the reduced cor...