Sharp Daily
No Result
View All Result
Monday, August 10, 2026
  • 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

Tax experts recommend a taxpayer ID system for KRA

Editor SharpDaily by Editor SharpDaily
October 7, 2023
in News
Reading Time: 2 mins read
Times Tower in Nairobi, the headquarters of Kenya Revenue Authority (KRA).Picture taken on Sunday, May 03, 2020. PHOTO DENNIS ONSONGO

Times Tower in Nairobi, the headquarters of Kenya Revenue Authority (KRA).Picture taken on Sunday, May 03, 2020. PHOTO DENNIS ONSONGO

The Kenya Revenue Authority has struggled to track and register potential taxpayers across the country due to the lack of an integrated national system to identify taxpayers.

This widespread issue has led to the exclusion of a significant proportion of potential taxpayers from being registered in the tax system, resulting in major revenue losses for the government over an extended period of time.

To address this pressing problem, a group of tax experts from leading institutions including the Institute of Certified Public Accountants of Kenya, the Institute of Economic Affairs, and international consultancy firm Deloitte East Africa have recommended implementing a Single Lifetime Identifier system for all potential taxpayers. This would aid KRA in maximizing its tax collection potential nationwide.

Read more: Kenya’s hospitality industry poised for growth as chains plan 25 new hotels

RELATEDPOSTS

KRA

KRA loses dispute over tax deduction on bad bank loans

August 10, 2026
KRA

KRA loses Sh264.9 million bad debt tax dispute against consolidated bank

August 10, 2026

In testimony before Parliament, the tax experts emphasized that introducing Personal Identification Number categorizations for employees, students, sole proprietor businesses and partnerships is necessary to prevent an abundance of dormant PINs across the system. Separate PINs for personal and business purposes would allow the authority to more efficiently track and register individual and corporate taxpayers.

The proposed National Tax Policy additionally seeks to tackle the unpredictability of fluctuating tax rates by requiring a comprehensive review of all tax laws every five years. The extensive policy also recommends developing a clear framework for identifying tax incentives and addressing complex challenges related to international taxation treaties and agreements.

The Treasury report aims to resolve systemic issues including the rapid growth of tax expenditures now estimated at 2.6 percent of the nation’s Gross Domestic Product as of 2021. Other targeted problems include difficulties taxing emerging digital economies, low compliance rates, and protracted delays in the resolution of tax disputes.

Comprehensive implementation of the new tax policy is expected to empower the revenue authority to maximize tax collection by accurately identifying all potential taxpayers and reducing redundant PINs.

Tax experts contend establishing a single lifetime identification system for all taxpayers would fundamentally strengthen the revenue authority’s tax collection capabilities. Distinct PIN categories for personal and business use would allow more precise tracking and registration of taxpayers across Kenya.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

New Kenyan law targets forex hoarding as shilling plummets

Next Post

Reviving manufacturing key to Kenya’s growth prospects

Editor SharpDaily

Editor SharpDaily

The latest in business, real estate, education, investments, tech and entrepreneurship, brought to you daily. Reach us through thesharpdaily@gmail.com

Related Posts

News

Private credit and its growing role in investment portfolios

August 10, 2026
KRA
Analysis

KRA loses Sh264.9 million bad debt tax dispute against consolidated bank

August 10, 2026
News

Kenya’s Capital Markets Recovery

August 7, 2026
News

THE AI INFRASTRUCTURE RACE RESHAPES GLOBAL CAPITAL ALLOCATION

August 7, 2026
News

Infrastructure Finance Growth Drives Regional Bank Expansion

August 7, 2026
News

Central Banks Shift to Stablecoin Prudential Integration

August 7, 2026

LATEST STORIES

Private credit and its growing role in investment portfolios

August 10, 2026
KRA

KRA loses dispute over tax deduction on bad bank loans

August 10, 2026
KRA

KRA loses Sh264.9 million bad debt tax dispute against consolidated bank

August 10, 2026

Kenya’s Capital Markets Recovery

August 7, 2026

AI and the Future of Pension Fund Management

August 7, 2026

Kenya’s retirees are finally waking up to the cost of growing old

August 7, 2026

THE AI INFRASTRUCTURE RACE RESHAPES GLOBAL CAPITAL ALLOCATION

August 7, 2026

Infrastructure Finance Growth Drives Regional Bank Expansion

August 7, 2026
  • 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