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KRA launches online auctions and tax amnesty to boost revenue

Judd Mutua by Judd Mutua
October 3, 2023
in News
Reading Time: 2 mins read

The Kenya Revenue Authority (KRA) has taken a significant step in modernizing its operations with the launch of an online auction platform. This digital initiative, part of KRA’s broader technological strategies, aims to simplify tax administration procedures, enhance service delivery, and improve revenue collection.

The introduction of the online auction platform follows a successful pilot phase, during which KRA collected KES 37.5 million. This transition from a physical auction process to an online platform is expected to alleviate congestion at ports and expedite the clearance of cargo, ensuring a more efficient and timely process.

Read more: Kenya moves to curb publicly-funded trips in cost-cutting push

Speaking at the Taxpayers’ Month Launch event at Customs House in Mombasa on Tuesday, KRA Commissioner General Humphrey Wattanga highlighted the advantages of the online auction. He stressed that this innovation would enhance transparency in the bidding process, expedite negotiations, and be accessible to registered taxpayers both within Kenya and globally.

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Wattanga also announced a Tax Amnesty program, urging taxpayers with accrued interests up to December 2022 to participate. Under this program, taxpayers can settle their principal taxes while having penalties and interests waived. The Tax Amnesty program is open until June 30, 2024, and is expected to generate approximately KES 50 billion in revenue for KRA.

“All taxpayers are welcome to apply for the waiver, including those who did not file their returns and accrued penalties for non-filing,” stated Wattanga.

Read more: Navigating the Forex market: The power of support and resistance in investment

The Cabinet Secretary of National Treasury and Economic Planning, Njuguna Ndung’u, praised the Tax Amnesty program as a means of giving back to society and supporting fiscal policies to bolster economic resilience.

“Tax amnesties are projected to bring in additional revenue as taxpayers voluntarily report and pay taxes that may never be collected by the Government. The amnesty programme is expected to improve tax compliance as tax administrations learn from taxpayers’ previous behaviours, thereby allowing them to plan better,” said the CS.

Wattanga emphasized KRA’s dedication to utilizing technology to enhance tax compliance. He mentioned the Electronic Tax Invoice Management System (eTIMS), rolled out in February 2023, which has helped curb VAT fraud and increase tax revenue. Additionally, KRA has integrated its systems with betting and gaming companies to streamline tax remittances and improve administrative processes in the sector.

The Taxpayers’ Month, celebrated annually, aims to honor compliant taxpayers for their contribution to Kenya’s economic development. This year’s theme, “Tunawiri” or “Let us prosper,” is meant to emphasize the role of every Kenyan in the country’s prosperity through tax payment.

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Judd Mutua

Judd Mutua

Judd Mutua is a journalist with wide ranging interests ranging from the world of finance to the latest in tech and business news. Off duty you can find him reading his favorite books and manga. Send tips via jmutua@thesharpdaily.com

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