Market News

KRA Rolls Out eTIMS Lite For All SMEs In Kenya

BY Soko Directory Team · March 4, 2024 02:03 pm

The Kenya Revenue Authority (KRA) has announced that all businesses, including those in the Informal Sector and Small Businesses, must electronically generate and transmit their invoices to KRA via the electronic Tax Invoice Management System (eTIMS).

Coming as a relief for millions of small businesses in Kenya, the eTIMS Lite platform enables non-VAT registered taxpayers to electronically generate and transmit their invoices to KRA through an easy-to-use interface. The platform is easy to sign up for and generate invoices.

Accessible via the eCitizen platforms, including a USSD option by dialing *222# and a web-based solution at ecitizen.kra.go.ke, the new system aims to alleviate the burden of compliance for small-scale entrepreneurs.

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KRA emphasized the importance of electronic invoicing for all businesses, regardless of size or sector. According to KRA, the new eTIMS will improve transparency, reduce tax evasion, and enhance overall efficiency in tax collection processes.

“We are committed to supporting taxpayers and ensuring compliance with tax regulations,” stated a KRA spokesperson. “Through initiatives like eTIMS Lite and our ongoing engagement with stakeholders, we aim to facilitate a smooth transition to electronic invoicing while providing tailored support to meet the diverse needs of businesses in Kenya.”

In addition to the rollout of eTIMS Lite, KRA has invited taxpayers and representative bodies facing challenges with compliance to engage with the authority for further assistance.

One innovative solution highlighted by KRA is the concept of reverse invoicing, where sellers authorize buyers to issue invoices on their behalf, providing greater flexibility in invoice management.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory