KRA nets Sh1.1tr in 2015/16 financial year

The Kenya Revenue Authority (KRA) has missed the 2015/2016 revenue target by Sh33.6 billion collecting Sh1.1 trillion in the last financial year.

A statement of actual revenues from the National Treasury shows that the taxman was expected to collect Sh1.14 trillion, falling just shy of the target.

This marks improved collections by KRA which collected Sh1 trillion during the 2014/2015 financial year.

The statement shows that Treasury also burst its local borrowing target, mopping up Sh506.2 billion from local banks against a revised target of Sh427 billion.

During the financial year, the government raised S1.85 trillion in revenue against the Sh2 trillion budget.