Finance Bill 2024 Lists 16 Transactions Kenyans Will Be Required to Provide KRA PINs


On Saturday, May 11, the government published the National Finance Bill 2024 which proposed various tax measures to be implemented in the upcoming financial year.

The Finance Bill also lists various transactions where Kenyans are required to produce their Kenya Revenue Authority (KRA) PIN.

Among them is the registration of an employee who works remotely outside Kenya for an employer in the country.

Here are the 16 transactions where a PIN is needed as categorised below;

Times Towers in Nairobi which houses Kenya Revenue Authority’s head office. The photo was taken on Thursday, February 20, 2020.

Kenyans.co.ke

Business

As listed in the Finance Bill, one needs to have a KRA PIN during the registration of a business name and a company.

Trade licensing, importation of goods, customs clearing and forwarding are also some of the transactions that will require an individual to have a PIN.

Business individuals who make supplies to government ministries and agencies are also required to have a KRA pin. On the other hand, business owners who seek to register a mobile cellular Pay Bill and Till Numbers need the KRA PIN. 

Carrying out business over the internet or on an electronic network including through a digital marketplace is also listed among the 16.

Household

For starters, should an individual seek to open an account with financial institutions such as banks, the KRA PIN will also be needed.

Other transactions when the PIN will be required include during the registration of titles and stamping authorities and during the payment of deposits for Kenya Power electricity connections.

On the other hand, the PINs need to be provided when one is seeking approval of development plans and during the payment of water deposits.

Additionally, Kenyans who have purchased cars and are seeking to register the vehicles have to provide their KRA PINs. The PINS are also required during the transfer of motor vehicles, and licensing of motor vehicles.

Professional

For professionals who belong to various professional bodies, the PIN needs to be provided during registration or renewal of membership.

Vehicles at a yard for sale.

Photo

KPA



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