RUTO collects a whopping Sh3.4 billion in a record 2 months from tax cheats after assenting to the controversial Finance Act 2023.

 

Wednesday, October 18, 2023 – The Kenya Revenue Authority (KRA) has announced that it has collected Ksh3.4 billion in less than two months following the introduction of a tax amnesty program on September 1.

In a statement, the authority revealed that more than 17,000 taxpayers have applied for tax amnesty and are expected to remit Sh10.5 billion.

“More than 17,000 taxpayers have applied for the tax amnesty which commenced on 1st September, 2023, and we expect the number to immensely grow as we continue to create awareness amongst taxpayers,” KRA’s Chief Manager Domestic Taxes Department Caroline Rotich stated.

The amnesty program will allow KRA to enhance compliance by waiving billions from taxpayers who have accrued penalties and interest.

“Through this program, taxpayers will only be required to pay the principal tax amount of outstanding tax debts. KRA is anticipated to collect over Ksh51 billion from the debts accrued in the period,” read part of the statement.

The Tax Amnesty Program, introduced through the Finance Act 2023, will enable taxpayers to request a waiver of penalties and interest accrued until December 31, 2022.

Taxpayers who qualify will receive an automatic waiver of penalties and interest for the specified period, without the need for an amnesty application. 

The Kenya Revenue Authority (KRA) encouraged eligible individuals to seize this opportunity and fulfill their obligations within the stipulated timeframe. 

Additionally, the tax authority urges those involved in court cases to explore out-of-court settlements to take advantage of the amnesty program.