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In 2006, Kenyan government revenue totalled US$4.448B and its estimated expenditures totalled US$5.377B. The government budget balance as a percentage of the gross domestic product improved to −2.1% in 2006 from −5.5% in 2004. [70] In 2012, Kenya set a budget of US$14.59B with a government revenue of approximately US$12B. [71]
The Kenya Revenue Authority (KRA) [2] was established by an Act of Parliament, the Kenya Revenue Authority Act, which became effective on 1 July 1995. The Authority is charged with collecting revenue on behalf of the Government of Kenya. [1] The Authority's core operations are:-
Kenya's taxation system covers income tax, value-added tax, customs and excise duty.The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with the above taxes while also having the authority to undertake reviews on various companies and corporations.
According to International Monetary Fund, "revenue consists of taxes, social contributions, grants receivable, and other revenue. Revenue increases government's net worth, which is the difference between its assets and liabilities (GFSM 2001, paragraph 4.20). Total expenditure consists of total expense and the net acquisition of nonfinancial ...
Refunds and corrections of erroneously collected tax revenue are treated as negative revenue." [3] UNU-WIDER data is more complex, total taxes consists of taxes, social contributions, grants receivable, and other revenue. Sources are IMF Country Reports [4] and OECD Revenue Statistics. [5] Data are in current national currency.
Main menu. Main menu. move to sidebar hide. ... The Commission on Revenue Allocation is a Kenya government Commission established under Article 215 and 216 of the ...
The collection of revenue is the most basic task of a government, as the resources released via the collection of revenue are necessary for the operation of government, provision of the common good (through the social contract in order to fulfill the public interest) and enforcement of its laws; this necessity of revenue was a major factor in ...
Tourism in Kenya is the third-largest source of foreign exchange revenue following diaspora remittances and agriculture. [170] The Kenya Tourism Board is responsible for maintaining information pertaining to tourism in Kenya. [171] [172] The main tourist attractions are photo safaris through the 60 national parks and game reserves.