Sharp Daily
No Result
View All Result
Friday, July 11, 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 Business

Kenya Revenue Authority recovers KES 4.2 Billion in fight against corruption

Huldah Matara by Huldah Matara
December 16, 2024
in Business
Reading Time: 1 min read

The Kenya Revenue Authority (KRA) has intensified its fight against corruption, leveraging technological innovations, reward programs, and lifestyle audits to enhance tax compliance and transparency. According to KRA’s latest report, these efforts recovered KES 4.22 billion in the financial year 2023/2024, reflecting a notable success in curbing tax evasion.

One of the key measures includes a reward scheme to encourage whistleblowers. “To incentivize the reporting of tax malpractices, KRA has also established a reward scheme offering informers 5% of the tax recovered, with a maximum pay-out of KES 5 million per case,” the Authority noted.

In addition, lifestyle audits played a crucial role in identifying illicit wealth among staff. “In FY 2023/2024, forty-one (41) lifestyle audits were conducted, leading to the recovery of KES 649 million,” KRA stated. These measures underscore a firm stance against corruption while strengthening public trust.

KRA has also implemented iWhistle, a web-based platform enabling anonymous reporting of tax fraud and evasion. The system has already yielded results, recovering billions while reinforcing accountability.

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

The Authority emphasized its broader strategy to create a transparent and efficient tax system. “We are committed to transforming KRA into a world-class institution with the highest standards of integrity and accountability,” said KRA Commissioner General Humphrey Wattanga. He added that technology and strategic reforms are driving efforts to combat corruption and enhance tax revenue collection.

KRA continues to collaborate with agencies such as the Directorate of Criminal Investigations (DCI) and the Ethics and Anti-Corruption Commission (EACC) to strengthen enforcement.

As part of its ongoing efforts, KRA has heightened integrity awareness among its staff and stakeholders, promoting a “corruption-free culture” to ensure equitable tax collection and sustainable economic growth.

 

Previous Post

EPRA announces fuel price drop for December

Next Post

Investing in Kenya’s fast-growing education sector

Huldah Matara

Huldah Matara

Versatile multimedia journalist with a keen interest in compelling stories that resonate with my audience. Reach out on huldahmatara12@gmail.com

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
Analysis

Lessons from the Kuramo-TransCentury fallout

July 3, 2025
Business

Competitive advantages of small businesses

June 26, 2025
Banking

CBK cuts policy rate by 25 bps to 9.75% from 10.00%

June 12, 2025
Business

Kenya’s coffee sector revitalization

May 19, 2025
Business

How digital tools are transforming youth agribusiness in Kenya

May 19, 2025

LATEST STORIES

Why Employers Should Prioritize Pensions Over One-Time Gratuity Payments

July 10, 2025
Business and Finance Concept - Coin, Currency, Financial Item, Graph,

Opinion: Why lower taxes may be Kenya’s only escape route

July 10, 2025

Nvidia becomes the first company globally to hit USD 4.0 trillion market value

July 10, 2025

Privatization in Kenya: A new dawn for capital markets and fiscal stability

July 10, 2025

How Kenya is future-proofing its economy against illicit finance

July 9, 2025

The importance of Investment Policy Statements (IPS) for pension schemes in Kenya

July 4, 2025

Understanding Life Cover as an Additional Benefit in Retirement Benefit Schemes

July 4, 2025

Del Monte foods files for bankruptcy in USA

July 3, 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