Kenya: KRA Issues New Stock Records Directive to Businesses Using TIMS, eTIMS

Businesses will be required to maintain up-to-date stock records under a new Kenya Revenue Authority (KRA) eTIMS functionality designed to track the movement of goods through their operations.

In a public notice issued on Friday, September 4, KRA explained that under the new arrangement, taxpayers using its Electronic Tax Invoice Management System (eTIMS) or Tax Invoice Management System (TIMS) will be expected to account for stock as it moves through their businesses. 

This means…