KRA extends deadline for all taxpayers to move to new TIMS system.
The Kenya Revenue Authority, KRA extends deadline for facilitation of transitioning to the new TIMS system.
TIMS system is the new Tax Invoice Management System that is electronic based. The authority stated that the deadline has been moved from Friday, September 30, to Wednesday, November 30.
The authority seeks to enroll all VAT registered taxpayers from the old Electronic Tax Registers to the Tax Invoice Management System (TIMS).
KRA stated,”Kenya Revenue Authority (KRA) wishes to inform stakeholders, taxpayers, 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 30th November 2022. The initial deadline was 30th September 2022.”
The Authority explained that, they noted some taxpayers are still acquiring and integrating the ETR devices.
KRA stated,”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 ETR devices are programmed in a way that they can check the accuracy of the invoice data generated at the time of making a sale through a validation process.