Nairobi, Aug. 25 -- The Treasury says taxes on workers' earnings for the financial year ended June 2021 exceeded the target despite falling Sh35.86 billion, implying Covid-induced job cuts, hiring freezes and a pause on pay raises were softer than expected.
Pay As You Earn (PAYE) taxes fell to Sh363.34 billion in the review year from Sh399.20 billion the year before and the lowest since the year ended June 2018 when the economy was smarting effects of the prolonged 2017 presidential poll.
Treasury Secretary Ukur Yatani says in the full-year budgetary and revenue performance report that payroll tax receipts surpassed the Sh361.03 billion goal set for the taxman by nearly Sh2.32 billion.
The data shows that PAYE recovered in the half of th...