The Kenya Revenue Authority (KRA) has published a new list of top taxpayers in the country which indicates some of the richest entities in the country.
The list has revealed that three churches have joined the ranks of blue-chip companies in Kenya.
According to the list, the Coptic Orthodox Church, Nairobi Pentecostal Church (NPC) and the Seventh-day Adventist Church have been listed as taxpaying organisations that register an annual income of between Sh350 Million and Sh1 Billion.
The churches now share ranks with some of the top organisations including Kirinyaga Construction, the Kenya National Union of Teachers (KNUT) and Google Kenya.
The largest denomination in the world, the Catholic Church, owns a good number of real estate properties in Kenya but is surprisingly missing on the list.
Conventionally, churches main income streams were tithes and offerings. However, increased investment in education, healthcare, financial services, hospitality and real estate have boosted their wealth creation streams.
While the taxman requires churches to file their annual tax returns, the Non-Governmental Organisations and Co-ordination Act lists churches as tax-exempt entities.
In addition, the list also named two women who have joined the Billionaires club in KEnya.
Read More: Meet the 2 New Kenyan Women Billionaires
