The Kenya Revenue Authority (KRA) has announced a new directive requiring businesses using the eTIMS or TIMS systems to maintain accurate and up-to-date stock records.

• Businesses must now account for the movement of goods, including purchases, sales, transfers, returns, adjustments, and disposals, within their operations.
• This initiative by the KRA aims to strengthen tax compliance and improve the accuracy of tax returns by providing greater oversight of stock movements.
• The KRA will begin consultations with businesses and stakeholders in September to explain the new functionality and address potential challenges before full implementation.