The Kenya Revenue Authority KRA) has extended their deadline for the taxpayers yet to switch to the new Tax Invoice Management System (TIMS).
KRA via a statement released on Monday September 26 announced the deadline had been extended to Wednesday November 30, as opposed to the previous deadline which was on Friday September 30.
“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,” read the statement.
The main reason for the deadline extension was to ensure those yet to switch to TIMS did so in time.
“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,”
KRA’s Domestic Taxes Commissioner has urged those that were in the process of acquiring the new Electronic Tax Register Machines to do so and complete the enrollment to the new Tax Invoice Management System (TIMS) from old Electronic Tax Registers.
The TIMS system is expected to have a positive impact on VAT administration as the overall objective is to increase VAT compliance, minimize VAT fraud and increase tax revenue
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