KRA (Kenya Revenue Authority) collected Kshs 1.005 trillion by November 30, 2024, marking a 4.3% growth compared to the Kshs.963.746 billion collected in the same period last year.
Despite challenging economic conditions, including a slowed Purchasing Managers Index averaging 48.94 points and modest 1.0% growth in import values, Customs revenue has maintained strong performance with monthly collections exceeding Kshs 70 billion for four consecutive months.
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The revenue collection shows mixed performance across sectors, with Customs revenue growing 5.9% to reach Kshs 359.571 billion and domestic taxes increasing 3.5% to Kshs 643.790 billion compared to the previous year.
KRA aims to collect Kshs 2.704 trillion by the end of the Financial Year 2024/2025,
though challenges persist, including reduced domestic demand and government austerity measures affecting VATable goods consumption.