KRA Online Auction Opens Bidding Process To All Taxpayers

The negotiation process will be faster and accessible to registered taxpayers in Kenya and globally

The Kenya Revenue Authority today, 2nd October, unveiled the KRA online auction, effectively moving the public sale process to digital format. Previously a physical process, the online auction is part of KRA’s technological strategies aimed at streamlining tax administration procedures to enhance service delivery and improve revenue collection.

The launch follows a successful piloting of the online auction, through which KRA collected Ksh37.5 million. The process is expected to boost government efforts to decongest ports and ensure cargo is cleared in a timely and efficient manner.

Speaking during the Taxpayers’ Month launch at Customs House, Mombasa, KRA Commissioner General, Mr Humphrey Wattanga, said the online auction will ensure transparency of the bidding process. He noted that the negotiation process will be faster and accessible to registered taxpayers countrywide and globally.

The Commissioner General said during this year’s Taxpayers’ Month, KRA has lined up a myriad of activities aimed at giving back to the society and honouring compliant taxpayers. “In the spirit of giving back to taxpayers, we are calling on those who have accrued interests up to December 2022 to take advantage of our Tax Amnesty programme and pay up the principal taxes due, so that we can write off the penalties and interests accrued,” said Mr Wattanga.

He said that KRA is determined to enhance voluntary compliance among taxpayers and urged them to embrace the programme before it closes on 30th June, 2024.  KRA is anticipated to collect approximately Ksh50 billion from the tax amnesty programme.

“All taxpayers are welcome to apply for waiver; those who did not file their returns and accrued penalties for non-filing, they automatically qualify, and should go ahead and file their returns,” Mr Wattanga said.

>> Taxman Earns Sh15B From a Tech-Powered Raid On Betting Companies

Speaking during the unveiling of the online auction, Cabinet Secretary, National Treasury And Economic Planning, Prof Njuguna Ndung’u, said besides being a means of giving back to the society, the Tax Amnesty programme is one of government’s fiscal policy measures aimed at cushioning Kenyans and strengthening economic resilience during the adverse domestic and external headwinds being experienced globally.

Prof Ndung’u said the government is cognizant of the current changing environment and will continue to support private businesses’ capacity to adapt through reforms. This will create business value for entrepreneurs to promote economic growth.

“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.

Embracing Technology

Mr Wattanga said that KRA will continue embracing technology in its quest to enhance tax compliance. Among the technologies that showcase this is the Electronic Tax Invoice Management System (eTIMS), rolled out in February 2023. A total of 95,732 VAT registered taxpayers had onboarded eTIMs by end of FY 2022/23. eTIMS has helped minimise VAT fraud and increased tax revenue.

Mr Wattanga said KRA has also integrated its systems with betting and gaming companies to streamlinine tax remittances from the sector and scale up revenue collection.

>> Meet Kenyan Billionaires Who Live On Bread Alone

The programme has enabled KRA to make significant improvements in the sector’s tax administrative processes, with the daily visibility of the firms providing trends that inform compliance measures.

The Taxpayers’ Month is organised to celebrate compliant taxpayers, since tax compliance is a key foundation on which Kenya’s economic stability is anchored. The event honours the self-sacrifice of patriotic taxpayers and their contribution towards the country’s economic development.

This year’s Taxpayers’ Month theme is “Tunawiri” which plainly translates to “let us prosper”. The theme presents a uniting call to all Kenyans to fulfil their role in Kenya’s prosperity of Kenya through payment of taxes.

>> How Meru Governor Kawira Mwangaza Built a Media Empire

Latest

Form 4 Leaver Who Makes Sh140,000 Monthly From Chapatis

Jepkoech, who started off with one packet of wheat flour a day, says she does a bundle per day, making Ksh4500 per day from chapatis alone. In addition, she sells tea and chips, which tops up her sales to Ksh5,500 per day, translating to about Ksh140,000 per month.

Perfectionism: Are You a Perfectionist?

Perfectionism can be defined as the propensity to think and believe that anything short of perfect is an abject failure while having concerns over mistakes and subjecting oneself to harsh and critical self-evaluations when the output fails to produce sought-after satisfaction and excellence. Am I a perfectionist?

Smart Doors: How You Can Control Access to Your House on Mobile

Many operators of Airbnb in Nairobi and other cities are using this technology to manage their clients access to accommodation and lodging facilities using smart doors and smart switches.

Fatal Accidents Report Reveals Most Dangerous Roads in Mombasa

The report, which spotlights roads with highest accident rates at the coast, offers chilling trends, including, among others, statistics that show significantly more men die in road accidents.

Follow Us

Newsletter

Don't miss

Lupita’s Little Brother Junior Nyong’o Charting His Own Path in Acting

Junior Nyongó, who is also a musician and a DJ and now a graduate of UC San Diego with an MFA in Acting, is crafting his own solid path in the world of acting with roles in major theatre productions.

Safaricom To Power Tusker OktobaFest Beer Festival

Safaricom’s involvement in OktobaFest as a technology and payments partner will focus on fostering seamless in-festival connectivity, empowering the youth and Gen Z community through Safaricom Hook, and powering digital payments through M-PESA.

Music Producers Launch Organization To Streamline Recording Industry

Recording Industry of Kenya (RIKE) was launched on 9th October 2023. Registered in 2022 as a not-for-profit organization, RIKE aims to promote the collective interests of producers of sound recordings in the country.

Nairobi’s Hero Bar Listed Among World’s 50 Best Bars

World Best Bars: Hero Bar in Nairobi continues to climb the list, moving up six places to No.62 and Johannesburg’s Sin + Tax comes in at No.94. Dubai new entry Ergo is at No.69 and Melbourne’s Byrdi has re-entered the list at No.61.

Kenyan DJs Face Off In Smirnoff Battle Of The Beats Season 3

The Smirnoff Battle of the Beats Season 3, a DJ competition, is poised to unleash an unprecedented musical frenzy countrywide.

The Highs And Lows Of Betty Kyallo, Sisters Show As Season 2 Ends

Kyallo Kulture has always been, above all, about sisterhood, and in Season 2 we have witnessed the charm of it - the ups that gave us wholesome moments as the sisters led by Betty Kyallo spent time together.

DStv Beats CNN, BBC To Become Most Admired Media Outlet In Africa

DStv, MultiChoice Group’s leading broadcast service, has been named...

MultiChoice Revises Subscription Fees For DStv, GOtv

MultiChoice has announced price adjustments on some of their...

Octopizzo: How I Make My Money

"I've been doing this for 12, 13 years. It reaches a point where you no longer need to prove that you can make a hit record," he stated.

New Spotify EQUAL Artist Qing Madi Talks Music and Dreams

Heavily influenced by her cultural background and the lyrical arrangements of Kendrick Lamar, the versatile Nigerian prodigy is shaping the future of music with her unique genre-bending fusion of Afrobeats, Pop, Soul and R&B.
BILL YAURA
BILL YAURA
Bill Yaura is a Correspondent for Business Today. He can be reached on email: [email protected]

Form 4 Leaver Who Makes Sh140,000 Monthly From Chapatis

Jepkoech, who started off with one packet of wheat flour a day, says she does a bundle per day, making Ksh4500 per day from chapatis alone. In addition, she sells tea and chips, which tops up her sales to Ksh5,500 per day, translating to about Ksh140,000 per month.

Perfectionism: Are You a Perfectionist?

Perfectionism can be defined as the propensity to think and believe that anything short of perfect is an abject failure while having concerns over mistakes and subjecting oneself to harsh and critical self-evaluations when the output fails to produce sought-after satisfaction and excellence. Am I a perfectionist?

Smart Doors: How You Can Control Access to Your House on Mobile

Many operators of Airbnb in Nairobi and other cities are using this technology to manage their clients access to accommodation and lodging facilities using smart doors and smart switches.

LEAVE A REPLY

Please enter your comment!
Please enter your name here