KRA Checked My Bank Deposits Against My Invoices — Here's What Happened
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KRA Checked My Bank Deposits Against My Invoices — Here's What Happened
KRA is watching your bank accounts. And if your deposits don't match your eTIMS invoices, you could wake up to a deemed assessment on your iTax account before you even know what hit you. This is not a hypothetical. A real construction firm in Mombasa learned this the hard way. They were receiving payments across three separate bank accounts but ...
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𝐊𝐑𝐀 𝐭𝐨 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞 𝐖𝐢𝐭𝐡 𝐌-𝐏𝐞𝐬𝐚 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 & 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐜𝐚𝐥𝐥𝐲 𝐃𝐞𝐝𝐮𝐜𝐭 𝐓𝐚𝐱𝐞𝐬 KRA is planning to integrate its systems, including eTIMS, with M-Pesa and other digital payment platforms to enhance tax compliance. Under the new system, businesses will transmit invoices to KRA in real time, a move that will allow taxes to be deducted instantly at the point of transaction. Previously, the authority relied on end-of-period declarations. According to KRA, th
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