THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
Budget Review & Emerging Tax Issues
DATE: 28th – 29th June 2018
VENUE: Taidys Hotel, Kericho
Introduction
In the wake of the 2017 general elections and the repeat thereafter, Kenyans have been eager for an economic rebound and recovery of the business and professional environment. The Economic Survey 2018 indicated that Kenya’s economy expanded by 4.9% in 2017 compared to a revised growth of 5.9 % in 2016. The slowdown in the performance of the economy was partly attributable to uncertainty associated with a prolonged electioneering period coupled with effects of adverse weather conditions. During the period, the economy experienced a slowdown in credit uptake to the private sector despite the capping of interest rates.
The 2018/19 Budget Policy Statement (BPS) sets out the government strategic programs to be implemented over the next five years (2018-2022). Themed “creating jobs, transforming lives -“the big four” plan” has identified four key strategic areas of focus: Supporting value addition and raising the manufacturing sector’s share of GDP to 15 per cent by 2022; Enhancing food security; Providing universal health coverage; and Provision of affordable and decent housing for all Kenyans. Furthermore, the government plans to streamline collection of taxes with the aim of doubling income tax to Kshs. 1.26 trillion and ensuring its stability.
Statistics from both the National Treasury and the Controller of Budget portray significant increase in public expenditure amidst widening budget deficit. Of concern too is the ever-increasing public debt. In light of these facts, proactive management of tax obligations and compliance with legal requirements is imperative.
The National Treasury has proposed changes to the Income Tax Act through the Income Tax Bill, 2018 which will effectively overhaul the Income Tax Act which has been in existence since 1974. The changes are bound to broaden the Tax Income net, foster tax compliance, seal loopholes in tax management systems and promote inclusivity, equity and fairness.
Conscious of these developments, ICPAK has organized a two-day workshop to equip both professionals and entrepreneurs with the requisite knowledge and skills to tactfully navigate the system towards the strengthening of their firm’s bottom line. Topics to be covered include:
- Highlight of the current macroeconomic environment FY 2018-19
- Expenditure priorities FY 2018-19: The Big 4 Agenda?
- Tax implications of the Fiscal Budget FY 2018-19
- Overview of the Draft Income Tax Bill 2018
- Review of previous years’ Budget Implementation set-backs
Target Audience:
This forum will be most beneficial to delegates drawn from both the public and private sectors particularly; Audit and tax practitioners, Personnel handling tax issues in organizations, Representatives from KRA, Tax payer’s association, Chief Finance officers, Academia.
Seminar Charges and CPD Units
The charges for the two-day Budget Review and Emerging Taxes seminar are as follows:
| Category | Seminar fees |
| Members | Kshs. 8,950 |
| Associate Members | Kshs. 6,950 |
| Non-Members | Kshs. 10,950 |
Continuous Professional Development Units
Members of ICPAK and of reciprocating professional bodies will earn 14 Structured CPD Units upon full attendance.
Online Booking
Kindly note that booking for the Seminar is available only online at www.icpak.com/events
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).
