KRA Pin: Mandatory for 16 Transactions in Kenya’s New Finance Bill 2024
On Saturday, May 11, the National Finance Bill 2024 was released by the government, outlining proposed tax measures for the upcoming fiscal year.
The bill specifies instances where Kenyans must present their Kenya Revenue Authority (KRA) Personal Identification Numbers (PINs), including scenarios involving remote employment for a Kenyan employer.
Included are 16 transactions requiring a PIN, categorized as follows:
Business:
The Finance Bill mandates a KRA PIN for business name and company registrations, as well as for trade licensing, goods importation, customs clearance, and forwarding.
Additionally, individuals supplying government ministries and agencies, or registering mobile cellular Pay Bill and Till Numbers, need a KRA PIN.
Conducting business online or via electronic networks, including digital marketplaces, is also among the listed transactions.
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Household:
Opening a bank account or dealing with financial institutions necessitates a KRA PIN.
Similarly, PINs are required for title registration, stamping authorities, and Kenya Power electricity connection deposits.
Approval of development plans and payment of water deposits also mandate PIN provision.
Furthermore, Kenyans purchasing and registering vehicles, transferring vehicle ownership, or licensing vehicles must provide their KRA PINs.
Professional:
Professionals affiliated with various bodies must supply their PINs during registration or membership renewal.
KRA Pin: Mandatory for 16 Transactions in Kenya’s New Finance Bill 2024
