TAX AMENDMENTS AWARENESS FORUM
Theme: Highlights of the key tax changes and the impact on businesses in 2021
Date: 29th January 2021
Time: 8.30-13. 00p.m
In April 2020 the government of Kenya through the tax amendments act 2020 put in place tax measures to cushion businesses against the effects of COVID-19. The measures were mainly aimed at boosting the business cashflows, citizen’s disposable income, safeguarding against employment losses and ultimately offering an attractive investment environment.
However, the uncertainties surrounding the COVID-19 and the desire for the government to raise revenue has seen forced the government to lift the various measure put in place as well introduce new tax legislations. The new measures are aimed at helping the government generate additional tax revenue.
Through the Tax Amendment Act No. 2 of 2020 the government as proposed changes to minimum tax, taxation of employment income, corporate income tax, among other measure put in place in April 2020. Further, many tax proposals made through the Finance Act 2020 came to effect as from 1 January 2021.
It is against this background that the Institute has organized a tax webinar to discuss the major tax changes that came into effect on 1 January 2021 and their impact on business taking into consideration the increase in COVID -19 cases across the globe. The discussion will seek to clarify from KRA on how the changes will be administered.
- Minimum tax – What does this mean to business considering the fact that it is either minimum tax or instalment tax
- Digital service tax – What is expected from players in the digital marketplace
- Employment taxes – What does the changes in the graduated scale rates and tax brackets mean for taxpayers
- Changes in corporate income tax
- Changes in VAT
- Voluntary tax disclosure program (tax amnesty)
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 6 CPD Units upon successfully attending each of the sessions.
Private and Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, Tax Experts, Transaction Advisors, Engagement Partners and Key Audit staff, Banking, Extractive and SMEs sector accountants, Auditors, Practitioners, Tax Practitioners, Professionals working in County Governments and private sectors, Academia, employees of the NPO Sector.
Charges for the training will be Kes 5,000/= which will cover workshop fees, materials, and e-certificates of attendance.
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)