Budget Review & Emerging Tax Issues – Western Branch

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

Budget Review & Emerging Tax Issues – Western Branch

19th – 20th June 2018

VENUE: Golf Hotel, Kakamega – Western Branch

TIME: 9am to 4pm

1.0 About the Workshop

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:

1. Highlight of the current macroeconomic environment FY 2018-19
2. Expenditure priorities FY 2018-19: The Big 4 Agenda?
3. Tax implications of the Fiscal Budget FY 2018-19
4. Overview of the Draft Income Tax Bill 2018
5. Review of previous years’ Budget Implementation set-backs

Target Audience

Audit and tax practitioners, Personnel handling tax issues in organizations, Representatives from KRA, Tax payer’s association, Chief Finance officers, Academia

 Financial Commitment

The charges for the two-day workshop are as follows:

Workshop Travel and Accommodation Information (VERY IMPORTANT)

International and local delegates who will attend the event are advised to make their own preferred travel and accommodation arrangements to the event in advance- this is at delegates own cost

Delegates from other nationalities who want to attend are requested to check with their Kenyan Embassy/ High Commission for their travel requirements. We will assist with letters of invitation or any other confirmations that may be needed to facilitate issuance of VISAs

Special Needs

If you have special dietary or religious requirements, or should you need any particular assistance kindly refer to the event coordinator on emma.opiyo@icpak.com

Online Booking

We call on workshop participants to note that booking is available only online at www.icpak.com/events and will close on the 20^th June 2018 at 1700 hrs.  Delegates are reminded to note that online booking for events 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).

Sponsorships, Partnership Opportunities & Additional Information

This workshop presents a unique opportunity for brand positioning and communication that will enjoy optimal visibility before potential targeted customers. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from item sponsorships, exhibitions, advertising and sub-event sponsorship within the major event

The workshop intends to attract over 30 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring the event can reach us through raphael.nguli@icpak.com

Further requests can be channelled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to memberservices@icpak.com or emma.opiyo@icpak.com . We encourage members to regularly visit our website www.icpak.com for updates.