KRA Introduces eTIMS (Upgrade of TIMS)
KRA Introduces eTIMS (Upgrade of TIMS) T he taxman, KRA alerted the public and all VAT-registered taxpayers of the transitioning of VAT-registered taxpayers from the old electronic tax registers to the Tax Invoice Management System (TIMs) 3-5 years ago. KRA had stated that all VAT-registered taxpayers were to secure the new Electronic Tax Invoice Control Units before mid-2022. This would have allowed them to generate and electronically transmit tax invoiced in accordance with the VAT(Electronic Tax Invoice) Regulations, 2022. Around the same period too, the deadline was extended to November 2022. KRA had also said that the TIMS system was launched to ensure effective and efficient capture of data using electronic means. This is to facilitate faster processing of VAT refunds, among other benefits related to business. However, there have been new developments regarding the roll-out of TIMs following an announcement by the KRA Board Chair that TIMs will further be upgraded to i