The Kenya Revenue Authority (KRA) has surpassed its monthly collection target, for the fourth time in a row.
In a statement released early Saturday, the revenue agency said it collected Sh144.6 billion in March, highest revenue performance rate since the beginning of the Financial despite a challenging economic environment brought about by Covid-19.
”This is an outstanding performance compared to the month of February when KRA collected Sh127.7 billion registering a performance rate of 105.1 per cent to surpass its February revenue collection target,” KRA said in a statement.
Despite the slow economic progression, it registered 11.2 per cent revenue growth collecting a surplus of Sh6.6 billion in March 2021.
This was the fourth month running that KRA posted an improved and above target performance since December 2020.
The improved revenue performance has been attributed to the sustained implementation of compliance efforts, revenue enhancement initiatives and improved service delivery to taxpayers.
The agency’s Customs & Border Control (C&BC) Department recorded a growth of 47.3 per cent with a revenue collection of Sh60.751 billion, the second highest monthly collection in its history.
This was an improved performance compared to the month of February when it collected Sh51.3 billion reflecting a growth of 24.9 per cent.
The department surpassed the revenue target after collecting a revenue surplus of Sh14.409 billion in March 2021, achieving a performance rate of131.1 per cent
Domestic Taxes registered a performance rate of 91.4 per cent after collecting Sh83.378 billion. The performance was largely affected by Corporation Tax which registered a decline of 35.2 per cent, driven by significant decline of 62.8 per cent in the ICT sector.