THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Ask the Taxman Webinar: Questions and answers on key matters affecting professionals
Date: 14th April 2022
Time: 04.00pm-06.00pm
Venue: Online
Overview
The social economic disruptions caused by the pandemic have remarkably caused awareness and reform measures for more preparedness in future circumstances. Globally Governments have found themselves in a distinctive position in navigating between the various requirements on balancing revenue demand for the covid 19 economic recovery and strategic policy formulation which majorly eyes taxation as the main component. This has given rise to stiff competition for both foreign and local investments as part of the economic recovery action plans which alternately puts taxation incentives and policies as a key area to watch out in 2022.
The finance act No 8 of 2021 which was assented to law in June 2021 amended various tax laws out of which majority became effective in July 2021.However, there were still some amendments which were to be instituted in 1st January 2022 such as the interest restriction amendment, regulations on country by country (CBC) reporting requirements for multinational enterprises on common reporting standards (CRS),investment allowances deduction methods ,clarifications on definitions pertaining to investments allowances and many more. Given the technicality of interpretation and implementation of these changes, professionals, and taxpayer in general need to have profound knowledge on the same to enhance compliance aimed at navigating the sophisticated terrain towards economic recovery. It is against this background that the Institute has organized this webinar in conjunction with the state tax administrator KRA to have a one-on-one candid discussion on various tax matters in line with economic recovery and stability.
The following key areas will from basis of discussion.
- Economic recovery amid prevalent uncertainties and the political landscape
- Digital economy and digital service tax
- Expanded definition of new taxation policies and scope
- Clarification on thin line capitalization provisions
- Country by county reporting for ultimate parent entities of multinational enterprises resident in Kenya
- Amendment of the limitation of benefits clause
- Insurance relief on NHIF contribution
- Investments allowances deduction
- Interest restriction
- Tax rebate scheme for apprenticeship program
- ICPAK E-zisha platform
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 2 CPD Units upon successfully attending each of the sessions.
Cost:
Charges for the training will be Kes NIL.
Online Booking:
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory. This is available either online at www.icpak.com/events or on the ICPAK Live – A smart phone-based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
For further inquiries, kindly contact Andrew Kavoo at andrew.kavoo@icpak.com Fredrick Otwori at fredrick.otwori@icpak.com , Brenda Imali at brenda.imali@icpak.com Joy Kakai at joy.kakai@icpak.com with a copy to memberservices@icpak.com. Reach us on call: +254 719 074000/129
We encourage members to regularly visit our website www.icpak.com for updates
