As part of the partnership,
This comes ahead of the
VAT-registered taxpayers are required to fully transition to using Electronic Tax Registers that meet the requirements outlined in the Electronic Tax Invoice (ETI) Regulations 2020, failure to which they risk a Sh1 million fine, or a jail term of three years.
The move is aimed at enhancing VAT compliance, minimizing fiscal fraud, and increasing tax revenue.
Speaking during the unveiling of the agreement, Absa Bank Kenya Business Banking Director
"We fully understand the difficult times that our SME customers are facing due to the challenging operating landscape, and as their partner for growth, we are committed to continuing to walk the journey with them during this tough phase as the economy begins to recover from the pandemic's impact and general slowdown in the macroeconomic circumstances," Wasunna said.
Daniel Kiriungi from
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