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Government urged to tap into the informal sector to increase tax collection,
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Tap on informal sector to raise collection of tax, experts advise
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LETTERS
CS Treasury Ukur Yatani [Jonah Onyango, Standard]
Covid-19 has extensively suppressed world economies over the past one year -Kenya’s included.
Thousands have had to contend with substantial pay cuts as their employers endeavoured to align to the tough times. In a report released last year, the Kenya National Bureau of Statistics (KNBS) noted that almost 4.64 million people had lost their jobs by June 2020 up from 2.94 in March 2020 when the first confirmed case of Covid-19 was reported. As it stands, the situation could be worse.
Despite the suppressed economic progress, the tax revenues collected by the Kenya Revenue Authority (KRA) have maintained an upward trajectory, especially in the past four to five months. In December 2020, for instance, KRA surpassed its revenue collection target for the month by Sh2 billion after posting a collection of Sh166 billion.