Kenya looks to fix finances by nailing tax cheats, cutting borrowing

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Kenya plans to link its tax collection system to mobile financial platforms to weed out tax evaders and boost revenue by billions of shillings, part of a raft of measures to repair its coffers, the finance ministry said in a draft budget statement.

FILE PHOTO: A customer conducts a mobile money transfer, known as M-Pesa, at a Safaricom agent stall, as he holds Kenyan shillings in Nairobi, Kenya October 16, 2018. REUTERS/Thomas Mukoya

It will also reduce its foreign borrowing target for 2023/24 by a percentage point of GDP, and the domestic borrowing target by just over a percentage point of GDP, the statement said. “There are only 7 million people with KRA pin numbers,” Ruto said, speaking of the registered taxpayers.

 

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