Two weeks after it announced that it seeks to hire detectives to spy on high net worth individuals who don’t pay tax, it seem like the taxman already has those spies.
The Business Daily reports that the Kenya Revenue Authority (KRA) has started the process of attaching properties, salaries and bank accounts of high profile tax cheats. The government agency has compiled a list of companies and wealthy individuals labelled as high risk tax debtors and is seeking to recover Ksh20 billion through assets and income seizure.
In what promises to be the boldest crackdown on high net worth persons, KRA has hinged this aggressive pursuit of tax cheats on the Tax Procedures Act, which empowers the agency.
The taxman has been over the years falling short of its tax targets.
Although government revenues grew 11 percent in the 2018/19(July-June) fiscal year, they still fell short of the targets set for the year. Data by the Kenya Revenue Authority (KRA) showed collections grew to Sh1.58 trillion during the year ended June 2019, up from Sh1.435 trillion in 2017/18.
The government had a projected revenue target of Sh1.643 billion shillings for 2018/19 and KRA has been asked to collect Sh1.938 trillion in 2019/20.
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