KRA holds talks with ‘large taxpayers’
The Kenya Revenue Authority (KRA) is taking steps to simplify its processes and promote compliance among large taxpayers.
During an engagement session with large taxpayers at Nairobi’s Ole Sereni Hotel, KRA’s Commissioner General, Mr. Humphrey Wattanga, unveiled the organization’s commitment to streamlining its procedures.
For the fiscal year 2023/24, KRA is targeting the collection of Ksh. 1.1 Trillion from large taxpayers.
In the previous fiscal year (2022/23), large taxpayers contributed Ksh. 818 Billion in revenue, reflecting a noteworthy 9% growth compared to the previous year.
Mr. Wattanga highlighted that KRA has introduced a Relationship Management Framework designed to enhance the collaboration between the authority and large taxpayers, with the ultimate goal of improving their contributions and ensuring tax compliance. As part of this initiative, KRA has established a dedicated office known as the ‘Large Taxpayers Office’ (LTO) to engage and partner with large taxpayers.
“At KRA, our commitment goes beyond tax collection. We are equally dedicated to supporting taxpayers in maintaining compliance while contributing efficiently to our nation’s economic agenda. To facilitate this, we have set up the ‘Large Taxpayers Office’ (LTO), which will continue to engage and collaborate with you through a Relationship Management Framework,” stated the Commissioner General.
This framework has allowed KRA to identify, manage, and nurture personalized relationships with taxpayers, leading to more tailored and relevant services. This approach has not only addressed taxpayers’ concerns but has also effectively enhanced overall revenue compliance.
The KRA’s efforts to streamline processes and enhance compliance among large taxpayers are expected to contribute positively to the organization’s revenue collection while creating a more favorable environment for taxpayers, ultimately promoting economic growth in Kenya.
The move comes days after the tax collector announced it had missed its targets for the past four months by about Sh72 billion. This comes amid increase in taxes by the President William Ruto’s administration in the 2023/2024 financial year.
Also read: Uhuru Park to open gates soon, but not for free
Lulu Hassan: ‘Fighting in the bedroom’ the secret to a happy marriage
Betika responds to gambler who threatened to sue over disputed winnings