Seamless eTIMS with Retailware Solutions

      The Kenya Revenue Authority (KRA) introduced a new system of online tax invoicing called eTIMS to make the tax compliance and invoicing processes easier for businesses. This allows them to issue invoices online through the KRA and helps improve tax accuracy.

Common Integration Challenges Faced in eTIMS in Kenya

Most of the challenges observed were because individuals and businesses weren’t aware of who should or should not comply with eTIMS regulations in Kenya. Here are a few points that will bridge this knowledge gap:

• Effective 1 January 2024, VAT-registered and unregistered persons will have to comply with eTIMS integration.
• Anyone earning rental income from residential property should comply with eTIMS regulations in Kenya.
• Businesses that have registered for Turnover Tax (TOT), but haven’t integrated their systems with the previous TMS system for not meeting the necessary threshold should comply with eTIMS regulations.
• All businesses whose annual turnover doesn’t exceed KS5 million per year are eligible for eTIMS integration.
• All businesses that trade in goods and services that are either exempt or zero-rated as per the VAT Act 2013 should comply with eTIMS processes.
• All businesses that were VAT registered but could not integrate the old TMS systems due to some challenges or technical issues.

Why should you choose a right eTIMS compliant software solution?

eTIMS aims to automate your invoices and maintain an electronic record of the same. In Kenya, KRA has stated that effective 1st January 2024, businesses cannot claim their business expenses, if the supporting invoices are not generated electronically. Hence, choosing the eTIMS compliant solution that is appropriate for the nature of your business is very important for quick, accurate and effective generation and recording of your invoices.

What We Bring to You -

Integration with eTIMS will be a seamless and hassle-free process when you choose the Retailware Software Solution , which has the right features and functionalities. Some of the basic features as mentioned here:

• Effective VAT reporting
• Efficiency of Systems by bringing the accuracy
• Cost-effective Solution
• Smooth Integration (VSCU - Virtual Sales Control Unit)

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