Kenya Breaking News

We’ll follow law – Peter Ndegwa speaks on KRA plan to monitor mobile wallet

Safaricom CEO Peter Ndegwa has said the telco company will follow the law regarding Kenya Revenue Authority’s proposal to monitor mobile money wallets.

In an interview with Citizen TV, Ndegwa said KRA has specific support by law on how they can assess if an individual is paying tax correctly.

“If there are changes KRA would like to make concerning monitoring wallets, it has to be allowed by law, we will comply with any legally made request by the authority,” he said.

Ndegwa said before providing information to KRA on a specific person, the individual grants consent for the company to provide their information.

“We comply with legal requests made by KRA on specific taxpayers, the taxpayers also provide consent for us to provide their information,” he said.

KRA, through a draft of the 2023 Budget Policy Statement (BPS) proposed to integrate the tax system with leading telecommunication companies to raise more taxes and target evaders.

In the statement, the government plans to scale up revenue collection efforts by KRA to Sh3 trillion in the Financial Year 2023-24 and Sh4 trillion over the medium term.

Kenya Kwanza administration plans to undertake a combination of both tax administration and tax policy reforms.

“On the tax administrative side, KRA will integrate its system with the Telecommunication companies,” the statement read.

-the star

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