IRD achieves 15.46 % of budgeted tax revenues

IRD achieves 15.46 % of budgeted tax revenues
Published 21 December 2019

 

Till November of 2019-2020 fiscal year, the total tax revenues collected by the Internal Revenue Department (IRD) reached over  Ks1,029 billion, achieving a 15.46-per-cent goal.  

The IRD’s total tax revenue is expected to hit over Ks 6920 billion in 2019-2020 FY. 

The IRD’s tax revenues hit Ks 1029.493 billion—Ks 107.316 billion from the State-owned sector, Ks 0.272 billion from cooperatives sector and Ks 921.905 billion from the private sector. 

The IRD collected Ks 412.110 billion in income tax, Ks 294.814 billion in commercial tax, Ks 282.641 billion in special good tax, Ks 1.854 billion in gem tax, Ks 12.591 billion in stamp tax and Ks 25.483 billion in lottery tax. 

In 2019-2020 FY, the total tax revenue is projected to hit Ks 7969.397 billion—Ks 2473.685 billion in income tax, Ks 2227.964 billion in commercial tax, Ks 1348.541 billion in special good tax, KS 85.407 billion in office and stamp tax and Ks 165 billion in lottery tax. 

The IRD collected Ks1,683 billion in tax revenue in 2011-12 FY, Ks3,373 billion in 2012-13 FY,  Ks 4,459 billion in 2013-14 FY, Ks 6,518 billion in 2014-15 FY, Ks 6315 billion in 2015-16 FY, Ks7,122 billion in 2016-17 FY, Ks7,423 billion in 2017-18 FY, Ks2,792 billion from April to September in 2018 FY and Ks7,791 billion in 2018-19 FY.

The tax to GDP ratio was: 3.63 per cent in 2011-12 FY, 6.5 per cent in 2012-13 FY, 7.69 per cent in 2013-14 FY, 9.84 per cent in 2014-15 FY, 8.61 per cent in 2015-16 FY, 8.93 per cent in 2016-17 FY, 8.21 per cent in 2017-18 FY, 8.49 per cent in 2018 FY and 7.3 per cent in 2018-19 FY. 

Tax to GDP ratio is budgeted to hit 6.61 per cent in 2019-20 FY.