The number of Value Added Tax (VAT) audits by the Kenya Revenue Authority (“KRA”) is projected to increase as the authority seeks to meet its revenue collection targets.
In a recent article appearing in the Business Daily newspaper, it was reported that the Treasury had directed the KRA to audit large taxpayers with annual turnover of more than KES 750 million. This follows the announcement of a significant decrease in the collection of VAT in the six months to 31 December, compared to the previous period.
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