BDO EAST AFRICA - KRA eTIMS SOLUTIONS AND COMPLIANCE NEWSLETTER
17 January 2024
January 2024 came with it a radical shift in the business invoicing system in Kenya. All businesses whether registered for VAT or not, shall be required to electronically generate and transmit tax invoices to Kenya Revenue Authority (KRA) on a real-time basis. Invoices not generated via this Tax Invoice Management System (TIMS) shall not be admissible for expenses deduction and non-compliant businesses shall be subjected to punitive penalties. However, a limited category of businesses have been exempted from this requirement, including those whose annual turnover does not exceed KES five (5) million.