THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
BUDGET REVIEW & EMERGING TAX ISSUES
DATE: 20th – 21st APRIL, 2017
VENUE: Golf Hotel – Kakamega
Theme: Consolidating Economic Gains in An Environment of Subdued Global Demand
The 2017 Budget Policy Statement (BPS) is prepared against a backdrop of slow global economic growth owing to a more subdued outlook for advanced economies. However, the Kenyan economy remains resilient registering strong economic growth of 6.0 percent in 2016 compared to the average growth of 3.4 percent for Sub Saharan Africa and 3.2 percent for global economy. Further, our macroeconomic performance remains broadly stable with overall inflation within target, Kenya Shilling exchange rate to the US dollar remaining stable and low short term interest rates, a reflection of ample liquidity in the money market.
As taxation remains the key source of revenue for the government of Kenya, sound tax management is essential for the government to provide public services to its citizenry. Over the last decade tax performance in Kenya has significantly improved in nominal terms averaging about 24% of the size of the economy. This has enabled the government to finance 60% of the budget. World over, design and performance of the tax system has implications for inequality and as such it is the role of the government to ensure that it pursues a fair tax system for equitable distribution of income and welfare of the citizens.
We continue in our tradition of organizing seminars around the country for our members, clients and business leader to interact with the Institute’s public sector experts and draw the first lessons and implications of the national budget.
Some of the areas to be addressed include:
1)The current Macro-Economic Environment Context for the FY 2017/2018
(Inflation, unemployment, debt situation and interest rates)
2) Expenditure Priorities in an Election year 2017/2018
Adequacy & Sustainability of our revenue raising mechanism for 2017/18
3)Finance Bill 2017: – Key Issues
- Withholding tax
- Value Added Tax
- Betting, Lotteries and Gaming Act
- Real Estate and Others
4)Income Tax Act Review
- Policy Provisions
5)Tax Dispute Resolution Mechanism
- Tax Appeals Tribunal (TAT)
- Alternative Dispute Resolution (ADR)
6)Tax Reporting and Strategy (TRS)
- Preparation, review and filing of tax computations
- Tax health checks
- Monthly Withholding tax filing
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.
Kindly note that booking 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.
The charges for this event which cover seminar materials, meals, and e-certificates of attendance are as below:
Continuous Professional Development Units
Members of ICPAK and other reciprocating professional bodies will earn 14 CPD Hours upon successfully attending the event
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).