E-TIMS AND CLAIMS PAYMENTS

We recently shared a blog informing you that insurers don’t need to issue an eTIMS invoice to allow you to offset the insurance costs against tax. You can read the blog  here.

However, we have just been advised that under the same Finance Bill the insured must now issue an eTIMS invoice to receive a claims payment.  This is rather annoying as it just adds a further administration delay to an already cumbersome claims process.

Please note this is only applicable to businesses.

We are sorry to have to pass this information on to you, but please ‘don’t shoot the messenger’…nor your Insurer…it is being forced on them by the KRA.

This new process seems to have taken effect from the end of June, so if you have any outstanding claims settlements due, you may be requested to issue the eTIMS invoice, and your account handler will guide you through this.

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