KRA reports Sh18.7bn revenue collection from Japanese trading

This was done from the trading activities between Kenya and Japan as at October 2023

In Summary

•Kenya exported goods worth Ksh 4.84 billion to Japan and imported goods worth Kshs 46.1 billion

•“We are responsible to promote investment, ensure a favorable business environment and facilitate trade," said Wattanga.

The KRA headquarters at Times Tower in Nairobi.
PUNITIVE TAXES: The KRA headquarters at Times Tower in Nairobi.
Image: FILE

The Kenya Revenue Authority (KRA) has reported a revenue collection of Sh18.7 billion as at October 2023 made from the trade activities between Kenya and Japan.

The Commissioner General of KRA, Humphrey Wattanga said that Japan has become Kenya’s key investment partner noting that the trade volume has increased immensely in 2023.

"Kenya exported goods worth Sh4.84 billion to Japan and imported goods worth Sh46.1 billion," said Wattanga.

Expressing the commitment of the Authority to supporting Kenya's partnership with Japan he stated that KRA aims to make it easier for Japanese investors to do business in the country.

Speaking during a meeting with the Japanese Ambassador to Kenya, Okaniwa Ken, Wattanga said that the Authority is mandated to go beyond revenue collection and actively work on policies to attract investors.

“We are responsible for promoting investment, ensuring a favorable business environment and facilitating trade," said Wattanga.

“We will continue collaborating with relevant government agencies to attract Japanese investors to Kenya," he added.

Japan has been acknowledged as a crucial partner for KRA in trade facilitation and border control.

The Japan International Cooperation Agency (JICA) has previously supported KRA with capacity development for staff, border control equipment, patrol boats, vehicles and baggage scanners.

The Ambassador of Japan to Kenya said that the establishment of good tax policies is one way to create a conducive business environment for investors.

“There are approximately 144 Japanese companies operating in Kenya and there are many other investors willing to invest in the country,” said Ken.

Recognizing Kenya's special position in Japan's diplomatic relations within the region, the Ambassador praised KRA for its long-term partnership.

Pledging to continue collaborating with the Authority to contribute to a robust economy that enhances revenue collection for KRA.

WATCH: The latest videos from the Star