KRA Breaks Down How It Made Ksh1 Trillion In Revenue
The taxman announced on Monday, December 9 that the authority collected Ksh1.005 trillion as of November 30, 2024.
Marvin Chege 
The Kenya Revenue Authority (KRA) has marked a milestone in terms of revenue collection after hitting the Ksh1 trillion mark from collections across the country.
The taxman announced on Monday, December 9 that the authority collected Ksh1.005 trillion as of November 30, 2024.
The new figures mean that the KRA has recorded an improvement in the revenue collected this year, as compared to the previous financial year(2023/2024) where they had to wait until December 7 to hit a target of Ksh1.009 trillion.
"Kenya Revenue Authority (KRA) has surpassed the Kshs 1 Trillion mark, collecting Kshs 1.005 Trillion as of 30th November 2024!
KRA offices along Mombasa Road, Nairobi. /PEOPLE DAILY
"This milestone was reached earlier than last financial year when it was achieved on 7th December 2023," KRA announced in part.
Per the taxman, revenue collected in the first five months of the 2024/25 FY (July - November) grew by 4.3 per cent, totalling the aforementioned Ksh1.005 Trillion compared to Ksh963.746 Billion in the same period of the previous year.
Customs
On customs and border control, which is responsible for collecting revenue at the country's major entry points, the taxman recorded an impressive growth in revenue streams, hitting over Ksh70 billion.
In the last four months alone, KRA customs revenue amounted to Ksh359.571 billion an improvement from Ksh339.678 billion, representing a growth of Ksh19.893 billion which is equal to 5.9 per cent, realized in the same period in the financial year 2023/24.
"Customs revenue has been a beacon of hope, recording over Kshs 70 Billion monthly for four consecutive months (August-November 2024/25). July–November 2024 collections: Kshs 359.571 Billion, up 5.9% from the previous year," indicated KRA.
Domestic Taxes
Between July and November 2024, KRA reported revenue growth of 3.5 per cent, having collected Ksh643.790 billion from the Ksh621.984 billion recorded under the same period in 2023.
However, KRA cited various economic indicators including the low domestic demand, that it noted impacted its full potential to realize more revenues as they had projected.
''Key among these indicators is the significant low domestic demand as indicated by the slowed Purchasing Managers Index (PMI) that averaged at 48.94 points in July- November 2024 indicating a contraction in the economic activities,'' the taxman noted.
Additionally, moderate import values, which is a main source of both raw materials and final consumer goods which stood at 1.0 per cent, impacted on its revenue collection.
Meanwhile, KRA has set an ambitious target of Ksh2.704 trillion in revenue collections by the end of the current financial year, 2024/25. "With a clear upward trajectory, the Authority is confident of achieving this goal and sustaining Kenya's economy," expressed KRA.
