JANUARY TO AUGUST, 2022 BUDGET PERFORMANCE
OVERVIEW
From January to August, 2022, total domestic revenue collections amounted to K72.1 billion, of which K54.4 billion was from taxes and K13.5 billion from non-tax revenues. Total expenditure releases amounted to K94.3 billion. The difference between revenues and expenditures was met from the International Monetary Fund (IMF) Special Drawing Rights General Allocation (received in August, 2021), domestic financing, and foreign financing targeted at externally financed projects.
REVENUE PERFORMANCE
TOTAL REVENUES AND GRANTS
Total revenue and grant receipts amounted to K72.1 billion and were 3.5 percent above the budget target of K69.7 billion. The tax revenue component for the period under review amounted to K54.4 billion, non-tax revenue K13.5 billion, and grants, K4.2 billion.
INCOME TAX
Income tax collection for the period January to August, 2022, amounted to K35.3 billion against the target of K30.3 billion and was above target by 16.7 percent
