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Rogue traders deny State Sh125 billion tax revenue
Summary
KRA says its data suggests fraudulent schemes by domestic firms and multinationals could be depriving Kenya of as much as 8.3 percent of government revenue.
Tuesday April 27 2021
By CONSTANT MUNDA
Summary
KRA says its data suggests fraudulent schemes by domestic firms and multinationals could be depriving Kenya of as much as 8.3 percent of government revenue.
The Kenya Revenue Authority (KRA) now estimates the country loses more than Sh125 billion every year in taxes to shrewd traders who falsify the value of goods and services.
The KRA says its data suggests fraudulent schemes by domestic firms and multinationals could be depriving Kenya as much as 8.3 percent of government revenue, which amounted to nearly Sh1.51 trillion for the fiscal year ended June 2020.
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Businesses and communities are dealing with many COVID-19
related issues that are causing severe business disruption.
The Irish government has been swift to introduce new measures to
mitigate the effects of COVID-19 on business. No doubt,
further measures will be introduced in due course. Revenue has
acknowledged that tax payment difficulties are an inevitable
impact of the COVID-19 pandemic and has advised
taxpayers to file tax returns and pay tax liabilities if at
all possible .
Business Supports
On 2 May 2020 the Irish government announced a suite of measures
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