KRA Gives Taxpayers Upto November 30th to Move to New TIMS System
The Kenya Revenue Authority (KRA) has extended the enrollment deadline for those taxpayers who have not yet enrolled in the new Tax Invoice Management System (TIMS).
The authorities announced in a statement dated Monday, September 26, that the deadline had been delayed from Friday, September 30, to Wednesday, November 30.
The public, stakeholders, taxpayers, and business community are all affected by the new developments.
“Kenya Revenue Authority (KRA) wishes to inform stakeholders, taxpayers, the business community, and the public that the deadline to comply with the Value Added Tax (Electronic Tax Invoice) Regulations, 2020 by transitioning to the Tax Invoice Management System (TIMS) has been extended to November 30th, 2022. The initial deadline was September 30th, 2022,” read the statement in part.
The Commissioner for Domestic Taxes of the authority indicated that KRA had seen that a number of businesses and taxpayers were in the process of purchasing new Electronic Tax Register (ETR) equipment.
The expansion is therefore intended to allow people who have not yet acquired the essential machine to do so.
“Having noted that a number of taxpayers are still in the process of acquiring and integrating the ETR devices with their invoicing systems, KRA further advises that an administrative decision has been taken to provide additional time until November 30, 2022, to allow the taxpayers complete this process,” the commissioner explained.
Originally, the deadline for the changeover was set for July 31, 2022, but it was extended to September.
The authority intends to add all VAT-registered taxpayers from the previous Electronic Tax Registers to the Tax Invoice Management System (TIMS).
Subsequently, the KRA published a list of approximately sixteen registered ETR providers from which VAT-registered taxpayers were to purchase the new machines.
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Through a validation process, the enhanced ETRs may verify the accuracy of the invoice data generated at the moment of a sale.
As soon as the customer receives their copy of the invoice, the electronic version of the tax invoice is transferred to KRA in real-time or near real-time through the internet.
KRA Gives Taxpayers Upto November 30th to Move to New TIMS System
