Sharp Daily
No Result
View All Result
Wednesday, June 25, 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 collects KES 3.4 billion in tax amnesty program

Brian Murimi by Brian Murimi
October 17, 2023
in News
Reading Time: 2 mins read

Kenya’s tax authority has so far collected KES 3.4 billion from an ongoing tax amnesty program aimed at improving revenue collection.

The program, which began on September 1, allows qualifying taxpayers to apply for a full waiver of any penalties and interest accrued on outstanding tax debts through December 31, 2022. To benefit, applicants only need to pay the principal amount of tax owed with no additional fees.

“More than 17,000 taxpayers have already applied for the tax amnesty and we expect that number to grow substantially as we continue our nationwide awareness campaign,” said Caroline Rotich, chief manager of the Domestic Taxes Department at the Kenya Revenue Authority.

Rotich explained the authority has identified 2.8 million taxpayers who are eligible for the amnesty program based on historical records. If successful, the initiative could result in billions of shillings in waived penalties and interest charges, significantly reducing debts owed to the government.

RELATEDPOSTS

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 2025

Lessons from KRA’s VAT turnaround

June 12, 2025

Read more: Qatar Airways partners with SpaceX’s Starlink for in-flight Wi-Fi

The KRA has also been encouraging those with ongoing tax-related court cases to consider settling out of court in order to take advantage of the amnesty benefits.

“Through our Alternative Dispute Resolution framework, taxpayers can resolve outstanding disputes through mediation rather than through the judicial process,” Rotich said. “This allows for faster, mutually beneficial settlements that qualify for the amnesty waivers.”

The tax amnesty program was introduced earlier this year through the passage of the 2023 Finance Act. The KRA hopes to collect more than KES 51 billion through the program by recovering unpaid principal tax debts that accrued prior to 2023.

Tax revenue accounts for about 80% of Kenya’s annual budget, so improving compliance and collections is crucial for the government as it works to reduce dependence on external borrowing.

Officials said public awareness campaigns are being ramped up through the end of the year to encourage taxpayers to take advantage of the amnesty while it is available. They stressed that this is a limited time opportunity.

“We urge taxpayers with debts to act quickly and apply before the December 31 deadline,” Rotich said. “This allows a fresh start going into 2023 for both the taxpayer and the KRA.”

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Qatar Airways partners with SpaceX’s Starlink for in-flight Wi-Fi

Next Post

Türkiye and Africa look to strengthen economic links through new agreement

Brian Murimi

Brian Murimi

Brian Murimi is a journalist with major interests in covering tech, corporates, startups and business news. When he's not writing, you can find him gaming, watching football or sipping a nice cup of tea. Send tips via bireri@thesharpdaily.com

Related Posts

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
News

The downside of Impact Investing

May 2, 2025

LATEST STORIES

How Kenyan banks can bridge the cybersecurity talent gap

June 25, 2025

How companies can prevent administration through early intervention

June 25, 2025

How dairy bonuses are becoming a lifeline for Kenyan farmers

June 25, 2025

How dormant assets could be a hidden economic engine

June 25, 2025

Rethinking lifestyle inflation: The quiet investment killer

June 25, 2025

How Kenya can compete with global employment markets

June 24, 2025

Why Athi River deserves your investment

June 24, 2025

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 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