The Kenya Revenue Authority (KRA) has reached a significant milestone by collecting Sh1.005 trillion in revenue by November 30, 2024. This achievement comes earlier than in the previous year when the Sh1 trillion mark was reached on December 7, 2023.
Revenue collection in the first five months of the 2024/25 financial year (July to November) grew by 4.3% compared to the Sh963.746 billion collected during the same period in 2023. This growth highlights the success of KRA’s enhanced compliance and collection strategies.
Domestic taxes contributed Sh643.790 billion, marking a 3.5% increase from Sh621.984 billion in the previous year. Customs and border control revenues also posted robust growth, generating over Sh70 billion monthly from August to November 2024. Overall, customs revenue for the July-November period rose to Sh359.571 billion, a 5.9% increase from the same period in 2023.
KRA has set an ambitious revenue target of Sh2.704 trillion for the 2024/25 fiscal year and is well on track to meet or exceed this goal. This achievement underscores the authority’s pivotal role in strengthening Kenya’s economic stability and advancing national development.
These milestones reaffirm KRA’s commitment to fostering financial sustainability and resilience, laying a strong foundation for Kenya’s future economic growth.
