Important announcement – eTIMS update

Many business owners now have to comply with the new eTIMS regulations, if expenses incurred are to be offset against corporation tax. It has been a slow and complex process, and our industry was rather slow to understand the concept and to introduce the new system. As a result, some of our clients, whilst receiving our own invoices in good time, have advised that they need to wait for the insurers invoices before being able to settle their premiums.

Please be advised that we have been instructed by the Kenya Revenue Association, via the Association of Kenyan Insurers and confirmed by our partner Insurers, that insurance premiums are exempt from the need for eTIMS invoices.

Below is the extract from the recent letter received and below that is the link to the letter from AKI/KRA. This is available for your use should you need to show this at any time to your accountants/auditors, or the KRA.

View the AKI and KRA Letters

In summary, an eTIMS invoice is not required for insurance premiums. If you are waiting to pay outstanding premiums due to the lack of an eTIMS invoice, please proceed with the payment. For all new business and renewals, eTIMS invoices are neither required nor will be issued.
Any questions on this, please contact us.

If you have any questions on the above, please do get in touch: Email:talk2us@jwseagon.com or Tel: + 254 (0) 709 455 000.