Sharp Daily
No Result
View All Result
Friday, September 5, 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 hits 1 trillion mark in revenue collection amidst tough times

Faith Chandianya by Faith Chandianya
December 11, 2023
in News
Reading Time: 1 min read

The Kenya Revenue Authority has hit the one trillion mark of revenue collection after collecting Sh1.03 trillion as of December 8. This is equivalent to a growth of Sh180.714 billion (15.8%) compared to Sh156.095 billion collected in November 2022.

According to a KRA, revenue collection in the country has increased progressively in the past five months (July–November 2023) after it collected Sh963.746 billion compared to Sh856.646 billion collected in the same period in the last financial year, representing a growth of 12.5%.

“In spite of progressive growth, the collection was affected by the performance of key economic indicators that directly drive revenue collection. These key indicators have generally moved contrary to expectations, with an adverse impact on revenue mobilization,” KRA said.

According to KRA, one of the key indicators that affected the collection was the constant depreciation of the Kenyan shilling against the US dollar by 24.7% in November and 22% in July. Additionally, increased prices for fuel products, which led to a decline in import demand, made the situation worse.

RELATEDPOSTS

Lessons from KRA’s VAT turnaround

June 12, 2025

How the Kenyan government makes money by printing money

February 18, 2025

“While import value in Kenya shillings grew by 36% and 11.1% from July to November in dollar terms, the growth for the month was subdued to 9.0% and a decline of 9.2% recorded cumulatively.”

The authority further stated that revenue was also affected by domestic demand, as indicated by the Slowed Purchasing Managers Index (PMI), which was 47.18 points in July–November 2023, compared to 48.66 points in July–November 2022.

 

 

Previous Post

Govt proposes tax incentives to elevate tea sector through value addition

Next Post

President Ruto’s full Jamhuri Day 2023 speech

Faith Chandianya

Faith Chandianya

Related Posts

Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

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

June 19, 2025

LATEST STORIES

Breaking the Silence: Understanding and Supporting Suicide Awareness Month

September 5, 2025

Strategic financial moves steer Kenya’s economic stability

September 4, 2025
Private equity investment business concept

Private equity and insurance

September 4, 2025

How reforming payroll taxes can stabilize employment trends

September 4, 2025

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Boosting Your Retirement Savings with Additional Voluntary Contributions (AVCs)

September 4, 2025

Kenya’s private sector downturn eases as PMI rises to 49.4 in August

September 4, 2025

The Importance of Including Pension Plans in Corporate Benefits Packages

August 29, 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