tax
Tax

Kenya expects its revenue to grow significantly after the reopening of the economy and reversal of COVID-19 tax relief measures, the National Treasury said on Thursday.

Ukur Yatani, Treasury Cabinet secretary, said in a statement in Nairobi that the country expects its revenue collection to improve in the quarter ending March after reversal of the measures.

He noted that low revenue collection due to adverse effects of COVID-19 had affected government programs, including disbursement of monies to devolved units.

“Due to adverse effects of COVID-19 and subsequent containment measures that generally slowed down the pace of economic activities, the disbursement to counties fell behind by two months,” he said, noting the Treasury had transferred 133 billion shillings (1.21 billion U.S. dollars) to county governments on Thursday.

Kenya’s tax collections in five months to November 2020 fell 933 million dollars compared to a similar period in 2019.

The east African nation collects up to 14.6 billion dollars annually in revenue. Enditem

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