1Jul, 2022
Transitioning from the OLD ETR’s to TAX INVOICE MANAGEMENT SYSTEM (TIMS)?

Remember Kra is transitioning taxpayers from the old ETR to TAX INVOICE MANAGEMENT SYSTEM (TIMS)?

This is pursuant to the enactment of the VAT regulations (L.N. 189) and section 17 and 43 of the VAT Act 2013.

SO,WHAT ARE TIMS COMPLIANT ETR’s?

  • They are ETR’s that are capable of validating invoice data at the point of issuing the invoice.
  • They are capable of generating a unique code on the invoice which will help to verify its validity
  • Transmission of the Validates electronic invoice to KRA on a real time basis

ADVANTAGES OF THE TIMS COMPLIANT ETR’s

  • Simplified return filing through the pre-filled VAT return
  • It is a solution to the VAT Auto Assessments (VAA) process
  • Automated activation of the ETR
  • Faster processing of VAT refunds

Therefore to identify the suitable type of ETR for your business, we have discussed the different types of ETR’s below:

  1. TYPE A MACHINES.
  • Suitable for small businesses whose record keeping is manual.
  • Also for those who do sales on the move(using delivery modes)

Examples of such machines: DATECS WP-25,MERCURY 130W,INCOTEX 181/133

N.B : THE MACHINE IS PORTABLE.

  1. TYPE B MACHINES.
  • Suitable for retail outlets and shops using point of sale (POS) terminals.

Examples of such machines:INCOTEX 300SM DATECS FP 700, TREMOL FP 24.

  1. TYPE C MACHINES.
  • Suitable for businesses that have automated their operations and use software billing systems or Enterprise resource planning (ERPs)

Examples of such machines: INCOTEX 600

  1. TYPE D MACHINES
  • Suitable for all types of business entities.

Examples of such machines: IPALM.

Remember to replace your ETR to the TIMS COMPLIANT ETR by 31st JULY 2022.

Contact us for supply of the TIMS COMPLIANT ETR MACHINE.

CALL /TEXT /WHATSAPP : 0768-050-866

EMAIL US : info@jamiicapital.co.ke.