Office Supplies and Trends

Transition To KRA Tax Invoice Management System (TIMS) | 5 Key Benefits For Businesses In the recent past, Kenyan businesses have witnessed great transformation as the Digital Economy continues to become a reality. It is now crucial for Kenyan businesses to adopt digitization , to stay ahead of the curve. Digital invoice recording is one of the pillars of business digitization. Kenya Revenue Authority (KRA) has shown great interest in regulating tax records kept by individuals, government regulators, and businesses. Kenya Revenue Authority has introduced new regulations which aim to foster compliance through improved accuracy , improved record management and minimized VAT reconciliation challenges. A year ago, on 1st August 2021, the Kenya Revenue Authority issued a public notice to roll out the new tax invoice requirements. This public notice further provided a twelve-month window from the rollout date for all the taxpayers to comply. This transition period from the old ETR to the

  Upgraded Electronic Tax Registers (ETRs) History of ETR ETRs were first rolled out in Kenya in the year 2005 as a means of streamlining the collection of VAT and to minimize instances of tax evasion. The ETR is a cash register with fiscal memory that keeps a record of all transactions for purposes of the trader accounting for VAT charged at the time of making a sale. Other fiscalized electronic devices that have been used by traders over the years include Electronic Fiscal Printers (EFPs) and Electronic Signature Devices (ESDs). Over the years, Kenya Revenue Authority (KRA) has embraced automation with the aim of improving service delivery. As a result, in September 2020, the Cabinet Secretary Treasury gazetted  The VAT (Electronic Tax Invoice Regulations), 2020  that introduced the implementation of the Electronic Tax Invoice What is this Electronic Tax Invoice? Is it different from the current ETR? Essentially, and as per the VAT Electronic Tax Invoice Regulations 2020, you

DATECS WP-50MX  TIMS ETR DATECS WP-50 fiscal cash register is a new generation online cash register providing GPRS , WiFi (optional) and LAN (optional) connectivity. It connects this way to the TIMS application , where it sends data on the services or goods sold. The device can be used by all companies required to replace the fiscal cash register they used with an online fiscal cash register. DATECS WP-50MX – efficient and mobile online cash register DATECS WP-50 fiscal cash register features very compact dimensions (88x200x74 mm) and weight (0.604 kg without paper). Manufacturer has equipped this model with a powerful lithium-polymer battery with a capacity of 2000 mAh, thanks to which the  cash register can work for many hours without access to mains power . Reliability and mobility go hand in hand with the possibility of personalising receipts – the user can place, for example, the company logo on the fiscal document. The presented device is suitable for work in a retail out