Sharp Daily
No Result
View All Result
Sunday, June 29, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

KRA to be integrated with telecommunication companies in tax plan

Faith Chandianya by Faith Chandianya
March 22, 2024
in News
Reading Time: 1 min read

The government has disclosed plans to enact nine tax reforms in accordance with the Fourth Medium Term Plan (MTP IV) 2023-2027, launched by President William Ruto on March 21.

These reforms encompass the integration of Kenya Revenue Authority (KRA) systems with those of telecommunication companies, aimed at bolstering revenue collection for the government.

This integration mirrors successful strategies employed in the betting industry, resulting in a substantial increase in tax revenue collection by KRA. Additionally, the government intends to enhance tax collection in the rental sector through technological advancements and property mapping nationwide.

The Medium Term Plan also outlines initiatives to leverage technology and data analytics at Customs and Border Control to mitigate revenue risks associated with imported goods.

RELATEDPOSTS

KRA’s VAT collection hits record high of KES 34.552 Billion in January 2025

February 18, 2025

KRA records 4.5% growth in revenue collection for 2024

January 29, 2025

Furthermore, the government aims to strengthen revenue mobilization through the utilization of modern technologies such as Artificial Intelligence (AI), blockchain, and machine learning.

Efforts to improve tax compliance among Kenyans will involve simplifying tax processes and expanding self-service options for taxpayers. The Treasury previously announced plans for KRA to introduce a USSD code for tax payments, detailed in the Medium Term Revenue Strategy document.

President Ruto’s administration emphasizes the importance of broader tax participation, particularly targeting the informal sector to contribute to nation-building.

The reforms entail implementing an electronic tax invoice management system for efficient VAT collection and automating manual tax processes, including exemptions and revenue reconciliation.

These reforms are scheduled for implementation from the upcoming financial year 2024/25 through the 2027/2028 financial year. Additionally, the Medium Term Plan outlines budgetary reforms aimed at supporting Ruto’s Bottom-Up Economic Transformation Agenda (BETA).

These reforms include establishing a common payroll system, efficient project implementation, and deploying an end-to-end e-Government procurement system.

Previous Post

Government puts effort to empower informal traders

Next Post

Brian Chira’s funeral fundraiser exceeds KES 5 Million in 48 hours

Faith Chandianya

Faith Chandianya

Related Posts

News

Private vs Public Pension Funds in Kenya

June 27, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025

LATEST STORIES

Private vs Public Pension Funds in Kenya

June 27, 2025

The mechanics of currency manipulation

June 27, 2025

Understanding how to access your pension savings in Kenya.

June 27, 2025

What happened to president Ruto’s economic dream?

June 27, 2025

Opinion: Populism feeds votes, not growth

June 27, 2025

Competitive advantages of small businesses

June 26, 2025

Opinion: Invest in sports for national prosperity

June 26, 2025

Ethiopia’s access to Eritrean ports is a game-changer for trade

June 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024