THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Tax Compliance Workshop (Mandatory Training)- Recording
Date: 2nd – 3rd March 2022
(This is one of the mandatory trainings for Practicing Certificate consideration)
Taxation in Kenya is for the purpose of financing the government’s planned activities but as the world has continued to evolve, so have tax evasion schemes and unfortunately almost growing at the same pace. While it remains a vital source of revenue, there have been continuous challenges for KRA to ensure that most taxpayers comply with taxation requirements. Some individuals and firms have learnt to do business without paying due taxes, tax authorities have no choice but to learn how to catch these criminals without missing. Over the past few years, financial fraud and tax investigations have revealed sophisticated tax evasion schemes devised by criminals in the supply chain aimed at evading payment of taxes. These tax evasion schemes take a variety of forms and cost the taxpayer the absolute value of development funds.
The increased demand for domestic resources has drove many countries to review and realign their tax frameworks with a view to seal any leakages and boost revenue. Ranging from COVID -19 tax relief measures to integration of international tax proposals in domestic tax regimes there are quite a number of developments in both domestic and international tax environment.
Kenya has been at the forefront in the review of its tax framework. Over the pandemic period the government has instituted various measures ranging from what was known as COVID -19 tax relief measures, the ongoing review of the Income Tax Act and development of tax policy. Further, Kenya has been very active in shaping the international tax framework through the OECD Inclusive Framework. Through Finance Act 2021 proposed changes that are geared toward promoting the exchange of information and subsequently promote tax transparency.
Continuous review of tax mechanism has impacted heavily on the levels of tax compliance for taxpayers who have been affected by the pandemic. Increased scrutiny by the tax administration and the associated cashflow impacts calls for the need to always ensure tax compliance.
This seminar focuses mainly on the major developments on domestic and international tax frameworks that are geared toward promoting tax compliance. The seminar further, looks at the emerging tax issues linked to global and domestic tax outlook on basis of political and economic trends. Specifically, the seminar will cover the following areas of tax as relates to tax compliance as well as issues that are considered emerging in tax practice:
1. Tax compliance requirements -obligations for Individuals, and Businesses
2. An overview of the tax returns filing process in iTax
3. iTax Enhancements and Emerging Issues
4. Vat Compliance and Administration for Goods, Works & Services
5. Country by country reporting & exchange of information as tools of tax compliance- requirement critical review of the recently released draft c-b-c regulations
6. Managing Tax disputes
7. Effectiveness of modernization of tax systems in Kenya and tax compliance
8. Globalization and digitalization and tax compliance – the impact of the recent OECD two-pillar solution on international tax compliance and its impact on unilateral Digital service tax
9. Tax Evasion & Tax Avoidance
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending each of the sessions.
Charges for the training will be Kes 10,000/= 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)