The Kenya Revenue Authority (KRA) has announced that it has achieved a significant milestone by collecting Sh1.005 trillion in revenue as of November 30, 2024.

This marks an earlier achievement compared to last year, when the Sh1 Trillion target was reached on December 7, 2023.

The first five months of the 2024/25 financial year (July to November) witnessed a 4.3 per cent growth in revenue, compared to Sh963.746 Billion collected in the same period of 2023.

This increase demonstrates the effectiveness of KRA’s efforts in boosting revenue collection.

Domestic taxes played a crucial role, amounting to Sh643.790 Billion and showing a 3.5 per cent rise from Sh621.984 billion during the same timeframe in 2023.

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According to the authority, this solid performance underlines the ongoing improvements in compliance and collection strategies.

The axman said it is targeting Sh2.704 Trillion for the 2024/25 fiscal year and is on course to meet, if not surpass, this ambitious goal.

KRA sees this achievement as vital for strengthening Kenya's economic stability and supporting national development.

Customs and border control revenue has also shown remarkable growth according to KRA, consistently collecting over Sh70 billion monthly from August to November 2024.

The authority said the period of July to November contributed Sh359.571 billion in customs revenue, a 5.9 per cent increase over the same period in 2023.

With this consistent growth trajectory, KRA reiterated its commitment to bolstering the nation’s financial sustainability while supporting the broader economic agenda.