EXPERTS KENYA KRA tax goal rises Sh19bn after bar hours extended 6 months ago Iwo Bulski Post Views: 226 The Treasury has raised the target for excise duty this financial year by Sh18.6 billion on the back of longer operating hours for entertainment joints and increased rates of taxation. Treasury secretary Ukur Yatani in the latest projection expects the Kenya Revenue Authority (KRA) to collect Sh259.6 billion in excise taxes compared with Sh241 billion in the budget approved by lawmakers in June. The higher goal in the draft Budget Policy Statement (BPS) for 2022 comes in the wake of this month’s 4.97 percent raise to reflect average annual inflation for the year ended June 2021. Tax on about 30 excisable goods such as beer, bottled water, juice and motorcycles (boda bodas) was raised from November 2, with the taxman targeting an additional Shh3.7 billion from inflation-adjusted taxation. Petroleum products have, however, been spared the increment pending determination of a case opposing the annual inflation-adjusted duty on fuel in the High Court. Excise tax collections have also been boosted by longer operating hours for bars and restaurants to 11 pm from October 21 as part of relaxed Covid-19 restrictions which included the lifting of an 18-month nighttime curfew. Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: curfew, Kenya KRA, tax Continue Reading Previous Paysafe’s Income Access partners with Sahara GamesNext How Does Your Body Change While Playing in a Casino? More Stories EXPERTS KENYA Regulator now orders audit on betting firms’ sponsorship deals 2 days ago Samuel EXPERTS NIGERIA FG Moves To Weed Out Some Sports Betting Companies In Nigeria 2 days ago Szarlot BETTING KENYA Gamblers win Sh380bn through SportPesa bets 2 days ago Szarlot BETTING KENYA Low-income people finance Kenyan bookmaking companies 2 days ago Samuel EXPERTS NIGERIA 5 types of people you only see in betting shops 3 days ago Szarlot EXPERTS SOUTH AFRICA Vodacom plans a quarter of revenues from digital financial services 3 days ago Samuel KENYA ONLINE Kenyans top global uptake of mobile money-based app loans 6 days ago Szarlot BETTING KENYA The boom in online sportsbetting in Africa 7 days ago Szarlot ETHIOPIA EXPERTS HOT NEWS 5G Network Service Arrive in Ethiopia 7 days ago Adeleye Awakan EXPERTS SOUTH AFRICA Why People Love Gambling 7 days ago Szarlot EXPERTS NIGERIA The new Nigerian law requires casinos to tighten AML controls 7 days ago Samuel BETTING KENYA Registrar sued in fight for SportPesa trademark 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.