Compliant VAT Invoices

On 4th November 2021, ZRA issued a Public Notice reminding VAT registered companies that they had until 31 December 2021 to ensure that their VAT invoices issued, are compliant with ZRA Regulations, specifically for the inclusion of Client TPIN numbers.

There is a good likelihood that many companies may not yet be compliant with these requirement.

Electronic Fiscal Device

Another ZRA regulation that many companies may still not be compliant with, concerns the fiscalisation of certain ZRA Taxes, especially VAT. As of 1 January 2020, VAT registered companies were required to acquire a ZRA Electronic Fiscal Device [EFD] and Tax/VAT  Invoices should be issued through this medium.

An exception to this requirement, was that certain accounting packages, if correctly integrated into the ZRA Tax Management System, would be authorised to issue VAT invoices compliant with ZRA regulations.

Many companies may not realise the status of their accounting package, and whether they are complaint with ZRA regulations regarding the issue of VAT Invoices. The penalty for non-compliance is severe – K90,000

Free Compliance Assessment

Please contact The Business Guru for a free, no obligation assessment of the status of your VAT Invoice compliance.

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Integration Solutions

The Business Guru offers integration solutions between ZRA Tax Management System and several major accounting packages.

Contact Us if you would like to hear more about our services, and how we can assist in getting your business compliant.