Energy levels and transition rates for electric-dipole, electric-quadrupole, electric-octupole, magnetic-dipole, and magnetic-quadrupole transitions among the levels arising from the $n leq$ 5 configurations in B-like Kr XXXII are calculated by using two state-of-the-art methods, namely, the multi-configuration Dirac-Hartree-Fock (MCDHF) approach and the second-order many-body perturbation theory (RMBPT). Our results are compared with several available experimental and other theoretical values. Electron-impact excitation (EIE) collision strengths are calculated via the independent process and isolated resonance approximation using distorted-wave (denoted by IPIRDW). Radiation damping effects on the resonance excitation contributions are included. Effective collision strengths are calculated as a function of electron temperature by assuming a Maxwellian electron velocity distribution. Spectral line intensities are modeled by using collision radiative model, and several line pairs pointed out might be useful for density diagnostics.