THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
Budget Review & Emerging Tax Issues
DATE: 21st to 22nd June 2018
VENUE: Sirikwa Hotel, Eldoret
TIME: 8am to 5pm
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
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 for the Budget Review & Emerging Tax Issues 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. Delegates are urged to note that the bookings close on 27th June 2018 at 1700 hrs
Budget Review & Emerging Tax Issues Charges:
The Charges for Budget Review & Emerging Tax Issues which cover seminar materials, meals, and e-certificates of attendance is as provided under;
Continuous Professional Development Units – 14
Members of ICPAK and other reciprocating professional bodies will earn 14 CPD points upon successfully attending Budget Review & Emerging Tax Issues
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).
Sponsorship Opportunities & additional information
The Budget Review & Emerging Tax Issues attracts over 100 participants drawn from public sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through firstname.lastname@example.org
Further requests for the Budget Review & Emerging Tax Issues can be channeled to us via telephone calls on +254 719 074 100/ +254 719 074 129 or via email to email@example.com. We encourage you to regularly visit our website www.icpak.com for more update