Support big taxpayers to grow revenue pool – Business Daily
The Kenya Revenue Authority’s top taxpayer award is a good initiative that recognises the biggest revenue earners for the government.
The listing also reveals the small number of companies that are lining up the Exchequer pockets. Seven large firms — Safaricom, Airtel, Base Titanium, Equity Group, KCB, BAT Kenya and EABL– contributed in excess of Sh300 billion to the Treasury in taxes, duties and licence fees in the past year, underlining their strategic importance to the economy.
Their contribution was the equivalent of 15 percent of the Sh2.03 trillion in revenue that the Treasury collected in the fiscal year ended June 2022.
As the government recognises the large taxpayers, it ought to also explore ways in which it can facilitate the big corporates to grow through incentives and facilitating expansion.
While a lot of focus is rightfully given to small businesses, it is the big formal corporates with capacity to raise finances for huge investments that generates jobs and earn substantial taxes.
The government should ensure that these large companies are supported even as the country works hard to create new success stories.