ECONOMY

Tax Amnesty Nets Sh44 Billion For KRA

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KRA tax amnesty
Under the amnesty programme, taxpayers were only required to pay the principal tax amount of their outstanding tax debts.
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Kenya Revenue Authority (KRA) has collected Ksh43.9 billion from 1,064,667 taxpayers who took advantage of the tax amnesty programme that ended on 30th June 2024.

Through the tax amnesty programme, KRA waived penalties and interest amounting to Ksh507.7 billion, benefiting 3,115,393 taxpayers. The waivers included those that were offered automatically after taxpayers filed their returns, declared and paid their principal taxes.

The tax amnesty programme, which ran between 1st September 2023 and 30th June 2024, provided a much-needed relief to taxpayers with outstanding tax obligations and was most successful in the month of June 2024 when KRA recorded the highest collection of Ksh15.1 billion, according to the Commissioner of Domestic Taxes.

The Finance Act, 2023 introduced the tax amnesty programme which allowed taxpayers to apply for amnesty of penalties and interests on tax debt for periods up to 31st December 2022. This followed the repeal of the provisions on abandonment and waivers of penalties and interest.

Under the amnesty programme, taxpayers were only required to pay the principal tax amount of their outstanding tax debts.

> IMF Economist Explains Why Kenyans are Among Heavily Taxed Citizens

Written by
BT Reporter

editor [at] businesstoday.co.ke

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