TAX EVASION TOP PRIORITY FOR KRA.
The state's tax generating firm seeks to deal with rich tax evaders who have hidden revenue.
With the continuous urge to various Kenyans to pay their taxes,the Kenya Revenue Authority aims to curb tax evaders who have an annual gross income of between 350 million to 1 billion shillings.Kenya is estimated to have a huge number of rich people who have hidden their wealth from the taxman and therefore KRA aims to target them in order recover these hidden revenue.It is estimated that KRA would recover 5 billion out of these rich tax evaders and other hidden revenue generating platforms.
This move would come with travel bans and the freezing of various assets belonging to the alleged tax evaders.
KRA would see this through by hiring more enforcement officers who would help to implement this plan.The tax generating firm stated that the tax cheats risk prosecution,collection of duty from their suppliers among other consequences.
The Corona Virus pandemic has also led to the government making minimal duty increases to curb the outrage by the public on the rising prices of consumer goods such as fuel.The rich tax evaders include those who have professions as doctors,lawyers,politicians and many more.
With the 2020 extended tax returns deadline luming on Thursday 31 June 2021,the KRA seeks to aggressively deal with tax evasion in its three year co-operate plan set till June 2024.