KRA To Track Sales Using New Electronic Tax Registers

The Kenya Revenue Authority is planning on using Internet-enabled electronic tax registers to track real-time data on traders’ daily sales.

Businesses will be required to install modern digital tax registers connected to KRA for monitoring.

The new system will allow KRA to collect sales and data from registered companies on a daily basis.

The new law was announced by Secretary of the Treasury, Ukur Yatani, as a strategy to curb tax evasion.

Electronic tax registers are a requirement for all enterprises with an annual turnover of Ksh5 million. The move will accelerate revenue collection and reduce tax evasion.

The new electronic tax registers are expected to seal tax evasions which have made KRA to fail consistently in achieving its target.

In the new regulations, traders are expected to seek permission from KRA before undertaking any business on a new day.

Once their systems are integrated with the parties involved, KRA will also receive real-time data on purchases of motor vehicles, property deals and real estate investors seeking electricity meters.

All enterprises are expected to install new tax registers by September 2021.

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