Rotich now turns to former and serving CEOs for taxman's board [Business Daily (Kenya)]
(Business Daily (Kenya) Via Acquire Media NewsEdge) Treasury secretary Henry Rotich has turned to former and serving CEOs for Kenya Revenue Authority board positions.
The minister has appointed Mary M'Mukindia, a former CEO of National Oil Corporation of Kenya (Nock), and Constantine Kandie, the chief executive of the Leadership and Governance Advisory Group, as members of the KRA board for three years effective August 14.
He has also renewed the term of Kibuga Kariithi, a former CEO of the Nairobi Securities Exchange, as the mandate of KRA's board appointed in March 2010 expired.
The appointments come at a time when the taxman faces a higher revenue target in the current financial year, with the fresh board members expected to drive strategies to help meet the targets.
"The Treasury Cabinet secretary appoints (the three) to be members of the board of KRA for a period of three years, with effect from August 14," reads part of the gazette notice dated August 15.
Ms M'Mukindia has held a number of executive roles among them CEO of Nock, general manager of the Petroleum Institute of East Africa, and senior manager at ExxonMobil.
She is currently a programme officer at the United Nations Environmental Programme where she is in charge of developing clean fuel policies in line with the global green agenda.
Ms Kandie is a former executive director of the Eastern Africa Grain Council and has served in a senior capacity in a number of organisations.
Mr Kariithi is a former CEO of the NSE and City Finance Bank Ltd, which later merged with Jamii Bora Kenya Ltd. He is also a founder of Baraka Africa Fund and a director of Afrika Investment Bank, a member of the Nairobi bourse.
The three join KRA in a financial year when it is expected to collect Sh973.5 billion, the most ambitious target in the agency's history.
(READ: Treasury sets record revenue collection target for KRA)
The taxman announced total revenue collection of Sh800.4 billion in the 12 months to June, falling 9.1 per cent short of the initial target of Sh881.2 billion.
Among measures planned by KRA to raise more revenue include use of automated electronic tax registers and stricter enforcement of value added tax, where it has faced major leakages partly due to numerous exemptions that have now been eliminated.
Higher revenue collection by KRA is meant to help plug the huge budget deficit as the government moves to spend a total of Sh1.6 trillion this financial year.
Treasury expects revenues and grants to hit Sh1.2 trillion, leaving State coffers with a massive deficit of Sh356.9 billion.
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