Top Taxpayer in Kenya: The Kenya Revenue Authority has named Safaricom the best taxpayer in the country.
The award was presented by the KRA’s Commissioner for Domestic Taxes Department, Dr. Rispah SImiyu and received by Safaricom chief executive officer Peter Ndegwa and the Safaricom chief finance officer Dilip Pal.
“Today we were happy to receive the 2020 Top Taxpayer award in Kenya under the Large Taxpayers category by the Kenya Revenue Authority for our outstanding contribution to the development of our economy through diligent payment of taxes,” said Mr. Ndegwa.
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This was the thirteenth time that Safaricom was bagging the award, proving its diligence in honoring its tax obligations. “We acknowledge that this recognition of top taxpayer, which we have now won 13 years in a row, is a result of our commitment to make a difference by supporting the economy through job creation, duties and taxes and meaningful partnerships,” said Mr. Ndegwa.
In the financial year 2020, Safaricom paid out Sh. 98 billion in duties and taxes to the national government. In the same period, the telecommunications firm paid an additional Sh. 20 billion in dividends to the national government for its shareholding in the company.
“This award represents His Excellency’s recognition for Safaricom as the Top Taxpayer for having demonstrated highest tax revenue and exceptional compliance in payment and filing across all tax heads,” said Dr. Simiyu.
Over the last five years, Safaricom has paid out a total of Sh. 409 billion in taxes and Sh. 95 billion in dividends to the national government.
In February this year, Safaricom announced that it would pay an interim dividend of Sh. 18 billion equivalent to Sh. 0.45 per share, citing improved financial performance. The firm will pay the dividend on or about March 31 to shareholders on record as of March 5. The National Treasury will get a gross payout of Sh. 6.3 billion for its 35 percent stake in the firm.