Safaricom (NSE: SCOM), has been awarded the 2020 top taxpayer in the country under the Large Taxpayers category by the Kenya Revenue Authority (KRA).
KRA honoured Safaricom for “outstanding contribution to the development of our economy through diligent payment of taxes.”
“We also 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 Peter Ndegwa, Chief Executive Officer, Safaricom.
In FY20, Safaricom paid sh98 billion in duties and taxes, in addition to sh20 billion in dividends to the Government of Kenya.
Over the same period, Safaricom sustained more than one million jobs directly and indirectly and spent sh58 billion with local suppliers.
In the past five years, the firms’ cumulative taxes have amounted to sh409 billion, including sh95 billion in dividends.
“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. Rispah Simiyu, Commissioner, Domestic Taxes Department, Kenya Revenue Authority.
Safaricom continues to implement measures to cushion customers and Kenyans from the negative impact of the COVID-19 pandemic and has contributed more than sh10 billion in money, goods and services to the fight against the COVID-19.
To ensure that the country stays connected, network stability remains to be a key pillar in supporting the usage in M-PESA, voice, SMS and data.
Safaricom is committed to support the government during these unprecedented times and urges the government to balance revenue recovery with encouraging business renewal and growth as we look ahead to the post-pandemic revival of the economy.