- Electronic invoicing is mandatory for VAT-registered taxpayers in Kenya.
- The Tax Invoice Management System (TIMS) is used for managing electronic invoicing.
- TIMS requires real-time reporting of transactions to the Kenya Revenue Authority (KRA).
- Electronic Tax Registers (ETRs) are used to validate and transmit invoice data.
- Taxpayers must have a certified TIMS device integrated with their invoicing system.
- Invoices must include mandatory data such as tax identification number, Control Unit serial number, unique invoice number, and QR code.
- Invoices must be electronically signed and archived for at least 5 years.
- TIMS implementation occurred in phases from 2021 to 2022.
- Electronic invoicing has been mandatory since November 30, 2022.
- Non-compliance may lead to financial penalties and legal actions.
Source: edicomgroup.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Kenya"
- Kenya High Court Rules Fintechs’ Payment Processing Commissions Exempt from VAT
- Kenyan Court Exempts Fintechs from VAT; Ghana Merges Telecoms to Challenge MTN’s Dominance
- Kenya KRA GavaConnect Reaches 1,000 Developers: eTIMS and VAT API Integration Announced
- Kenyan High Court Exempts Pesapal from $500k VAT, Setting Fintech Tax Precedent
- Pesapal Wins Court Ruling: Digital Payment Services Exempt from VAT in Kenya
