Safaricom ranked 2012 top tax payer

TaxOnce again the mobile service provider Safaricom has been feted as the countries’ top tax payer for the 2011/2012 fiscal year, at a ceremony graced by H.E. President Mwai Kibaki on Monday during the event which marked the end of Kenya Revenue Authority tax payer’s week. The tax payers week is an annual event organized by the tax body to encourage a tax-compliance culture within the population.

During this year’s recognition ceremony, Safaricom, Kenya Breweries Limited, and TSC managed to maintain their positions as the top taxpayers once again, attaining the same ranking as last year. The Kenya Revenue Authority (KRA) named East African Breweries Limited (EABL) and the Teachers Service Commission (TSC) as the second and third top tax payers in the country respectively.

Other notable companies that have featured on the top tax compliance and payer list include British American Tobacco (BAT), Kenya Commercial Bank, Barclays Bank of Kenya, Equity Bank Limited, Standard Chartered Bank and Kenya Ports Authority. The total tax remitted by these top 10 companies account for 17 per cent of total revenue collected, which represents a whopping KSh.115 bn during the 2011/2012 financial year.

This comes in the back drop of Finance minister Njeru Githae commenting that the Kenya Revenue Authority (KRA) is expected to collect KSh. 1 trillion in the coming fiscal year. This represents a 15 per cent growth from this year’s KSh. 870 billion target to meet the current rising public expenditure obligations set off by the rolling out of the devolved government that has been provided for in the new Constitution.

These new targets have made the KRA to come up with a number of innovative logistical measures through which it hopes to boost up collection. One of the top measures in the list is creating an interactive tax portal for the web, mobilization and education of communities to encourage remitting taxes. Other measures include adopting the use of GPRS-enabled electronic tax registers and offering tax remittance services in all National Bank branches nationwide to reduce the long ques at Times Tower, the Tax man’s country Headquarters.

While feting the companies on Monday, the President urged corporates from around the country to be faithful in remitting their taxes if Kenya is to achieve the vision 2030, a sentiment shared by the KRA Commissioner General John Njiraini.

Image courtesy: FreeDigitalPhotos.net

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