KRA gets powers to freeze planes, cars besides land
The Kenya Revenue Authority (KRA) will get powers to freeze and seize additional assets such as cars, ships and planes of wealthy tax cheats following proposed changes to the law.
Treasury Cabinet Secretary Ukur Yatani on Thursday announced changes to the tax laws that will widen the range of assets that can be frozen by the KRA beyond land.
The proposal is aimed at strengthening the KRA’s hand in the crackdown to recover unpaid taxes from high-net-worth professionals and traders in efforts to raise the national revenues.
KRA detectives have identified firms and wealthy individuals that owe it more than Sh260 billion.
Mr Yatani seeks to recover the billions as part of revenues to fund the Sh3.3 trillion budget for the financial year starting July.
He is seeking to raise Sh350 billion in additional revenues, including Sh50 billion from a rise in duty rates, signalling that the bulk of the money will come from aggressive pursuit of tax cheats.