TIMS Compliance Deadline Extended To 3Oth September 2022- KEPSA.

 TIMS Compliance Deadline Extended To 3Oth September 2022- KEPSA.

The Kenya Private Sector Alliance (KEPSA) has announced an extension to the deadline of compliance with the Tax Invoice Management Systems (TIMS) to the 30th of September this year.

In a statement by the Private sector alliance, the sector said that it has been engaging the Kenya Revenue Authority (KRA) on matters regarding the cost of compliance and sufficiency of duration for compliance.

According to the report, the Tax Invoice Management System (TIMS) Was launched so that data electronically captured is effective and efficient to ensure that VAT refunds are processed faster among other business operational benefits.

Further, the report by KEPSA states that a meeting by stakeholders that was called by the Commissioner General (CG) on the 1st of August 2022, resolved that,

•  The deadline of compliance be extended to 30th of September 2022.

•  The compliance cost could not be claimed as the VAT regulation does not provide for the same

•  KRA will engage with suppliers to ensure that the TIMS kits being paid for are in the country.

•  That there will be bi-weekly meetings with all stakeholders to review the implementation of the TIMS and ensure a seamless transition

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