- KRA introduces VAT Pre-Populated Return System to simplify filing returns
- The system automates data entry by capturing transactions from iTax, TIMS, eTIMS, and customs business systems
- This shift from manual to automated systems aims to enhance efficiency and transparency in tax reporting
- Commissioner for Domestic Taxes, Mrs Rispah Simiyu, emphasizes the system’s role in simplifying tax processes and improving user experience
- Future enhancements may include a fully web-based VAT return and a real-time taxpayer dashboard
- VAT returns are due monthly on the 20th, with the new system aiming to streamline the process
- Taxpayers must issue electronic tax invoices for all sales, which are transmitted to KRA via TIMS or eTIMS
- Taxpayers can use QR code readers and invoice checkers on itax.kra.go.ke to verify the accuracy of purchase invoices
- Accuracy verification of pre-populated VAT returns is crucial to avoid errors before submission
Source: businesstoday.co.ke
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.
