Rigathi Gachagua Confident KRA will Collect KSh 3 Trillion in Taxes by December 2022 – Tuko.co.ke
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Deputy President Rigathi Gachagua has revealed the contents of the midnight talks between President William Ruto and the Kenya Revenue Authority (KRA).
Ruto met KRA Commissioner General Githii Mburu on Tuesday night after gracing the Nairobi Securities Exchange (NSE) Market Place.
Speaking on Wednesday, October 12, Gachagua said the meeting set targets for the taxman to collect KSh 3 trillion by December 2022.
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In June 2022, KRA hit a KSh 2 trillion record in tax collection for the year 2021.
The Authority tripled revenue collection from KSh 707.36 billion in the financial year 2011/12 to KSh 2.031 trillion in the financial year 2021/22.
Gachagua maintained that Ruto's administration inherited a dilapidated economy and they are working hard to turn it around.
He noted the revenue collected is used to pay debts and pending bills that the previous administration left.
The previous government, led by former president Uhuru Kenyatta borrowed heavily to finance it projects.
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The National Treasury reports indicated Kenya's share of Gross Domestic Product (GDP) debt increased to 69.1% in June 2022, up from 66.7% in January.
The exchequer has since surpassed its domestic borrowing target for the 2021/2022 financial year by KSh 16.19 billion.
This saw the country's debt increase to a record KSh 8.5 trillion as of the close of the financial year ending June 2022.
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Source: TUKO.co.ke
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