- The Kenya Revenue Authority Surpasses KSH 1 trillion Mark, Records 4.3% in Revenue Growth
- The domestic tax collection grew by 3.5% to Ksh 643.790 billion compared to Ksh 621.984 billion recorded in the last FY 2023/24.
- The Customs & Border Control recorded Ksh 359.571 billion, reflecting 5.9% in revenue growth.
- KRA aims to collect Ksh 2.704 trillion by the end of the financial year 2024/25.
The Kenya Revenue Authority (KRA) has hit a robust milestone in terms of revenue collection, pointing to the strategies the tax collector has implemented to ensure growth is realized. KRA surpassed the one trillion mark, collecting KSH 1.005 trillion, which is a record 4.3% growth in revenue as of September 30th, 2024.
This is an incredible achievement considering the duration taken to hit that mark, compared to the last financial year, when it was achieved in early December of 2023. The revenue was collected in the first five months of FY 2024/25, which represents a plump growth compared to Ksh 963.746 billion recorded in the respective period of the previous financial year.
“Kenya Revenue Authority has surpassed the Ksh 1 Trillion mark, collecting Ksh 1.005 Trillion as of 30th November 2024! This milestone was reached earlier than last financial year when it was achieved on 7th December 2023,” KRA announced on their X handle.
“Revenue collected in the first five months of the 2024/25 FY (July-November) grew by 4.3%, totaling Ksh 1.005 Trillion compared to Ksh 963.746 Billion in the same period of the previous year.”
Between July and November, domestic tax collection grew by 3.5%, hitting Ksh 643.790 billion, as compared to the same period in the last financial year, when it reached the Ksh 621.984 billion mark. KRA has said that it aims to achieve Ksh 2.704 trillion in revenue collection by the end of the current financial year.
“KRA aims to collect Ksh 2.704 Trillion by the end of the financial year. With a clear upward trajectory, the Authority is confident of achieving this goal and sustaining Kenya’s economy.”
Additionally, the Customs & Border Control revenue has been booming in the last five months. KRA recorded over Ksh 70 billion monthly collecting between July and November—a 5.9% growth of Ksh 359.571 billion compared to the previous year.
