The Kenya Revenue Authority (KRA) is targeting Ksh2.704 trillion in revenue collection by the close of the 2024/25 financial year, which ends on June 30.
Alex Mwangi, KRA’s Acting Commissioner for Strategy, Innovation, and Risk Management, expressed confidence that the goal will be met.
“We are confident that we will maintain this upward trajectory and achieve our target, which will help the government sustain the country’s economy,” Mwangi said.
His comments follow a significant milestone achieved by KRA, which had collected Ksh1.005 trillion by November 30, 2024.
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Mwangi noted that this marked a substantial increase in revenue compared to the same period in the previous financial year.
In the 2023/2024 fiscal year, KRA surpassed the Ksh1 trillion mark by December 7, 2023, with a total of Ksh1.009 trillion.
“Revenue collected from July to November 2024 totaled Ksh1,005.183 billion, reflecting a 4.3% growth compared to Ksh963.746 billion collected during the same period in the previous year,” Mwangi said.
KRA’s Acting Commissioner Alex Mwangi.
Customs revenue has continued to perform well, surpassing the Ksh70 billion mark every month from August to November 2024.
This contributed to a total of Ksh359.571 billion in customs revenue for the period, marking a 5.9% increase over Ksh339.678 billion collected in the same months of FY 2023/24.
Domestic taxes totalled Ksh643.790 billion from July to November 2024, a 3.5% increase from Ksh621.984 billion collected during the same period the previous year.