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Kenya revenue earnings up 13 pct for past finanicial year

Xinhua, July 28, 2016 Adjust font size:

Kenya has recorded a 13.2 percent year-on-year increase in government revenue collection for the financial year ending June 2016, despite slim corporate tax earnings and low import volumes reflecting the slowdown of the global economy.

Kenya Revenue Authority Commissioner General John Njiraini told reporters on Wednesday that the annual earnings rose to 11.98 billion U.S. dollars in the financial year ending June, up from 10.5 billion dollars received in 2014/15.

However, the official said the collection for the past financial year was below the authority's target of 12 billion dollars. Endit