ECONOMY

KRA set to host fourth tax summit amid pressure to raise more revenue

The Kenya Revenue Authority (KRA) will next week host the fourth annual tax summit with talks on expanding the tax base in order to finance President Uhuru Kenyatta’s Big Four Agenda expected to dominate the conference.

KRA’s event themed Accelerating Socio-Economic Transformation in Kenya: Tax Base Expansion to enable the Big Four Agenda will be held at the Kenya School of Monetary Studies (KSMS) and will run from October 15 to October 17.

The summit comes at a time when KRA has taken flak for failing to meet revenue targets for the 2017/2018 financial year, a situation that led to the effecting of the 8% tax on petroleum products with the government under increasing pressure to pay its debts and finance development projects.

In a statement to newsrooms, Deputy Commissioner Marketing and Communication Grace Wandera says that key topics which will be discussed during the summit include revenue base expansion to facilitate social services towards affordable housing and universal health care.

Topics which will also feature include expanding revenue base through robust Intra-Africa trade, taxation of e-commerce and m-commerce, taxation of extractives (mining, oil and gas) as well as accelerating the growth and competitiveness of the manufacturing sector in Kenya.

Exploring new frontiers for revenue administration with technology as an enabler, netting the informal sector and taxation in a digitized economy are areas also expected to be discussed.

READ: KRA, SUGAR IMPORTER SETTLE MULTI-BILLION TAX DISPUTE OUT OF COURT

The forum will bring together both local and international tax experts to deliberate on emerging taxation practices.

Treasury Cabinet Secretary Henry Rotich is also expected to attend the event having described the forum as a productive platform for debating tax challenges, both at strategic and operational levels.

“I look forward to the Tax Summit later in the month. I hope that through this forum, we will improve and enrich our stakeholder engagement portfolio, and ensure an all-inclusive tax administration approach,” said the CS Rotich during the Taxpayers Month (TPM) launch at KRA headquarters last week.

KRA has recently upped the ante in a mission to raise more taxes by targeting politicians, corporate leaders and rich businessmen who it accuses of evading taxes by moving to court seeking orders to have them compelled to pay their dues.

The politicians and the businessmen include Nairobi Governor Evans Kidero, former Nairobi County Chief Finance Officer Jimmy Mutuku, Oil Libya General Manager Duncan Murashiki and Mastermind Tobacco owner Wilfred Murungi.