THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Tax Principles and Emerging Issues Seminar – Central Rift Branch
Date: 3rd – 4th March 2021
Venue: Merica Hotel – Nakuru
Tax compliance is critical to public service delivery. Tax revenue is the most reliable sources of revenue in financing government business. This narrative has been amplified with the tough time that brought about by the COVID -19 pandemic. Over the COVID -19 period, most governments have faced the reality that tax revenue plays a major role in financing development. This reality has pushed many governments towards putting in place enhanced measures to ensure and promote tax compliance.
Further, as part of the tax revenue generation agenda, the Kenya government has put in place various measure geared towards encouraging tax compliance. For instance, effective 1st January, the government rolled a three-year voluntary tax disclosure program aimed at providing remission to tax penalties and interest on tax liabilities disclosed voluntarily. The government has equally introduced digital service tax, minimum tax with the aim of expanding the tax base and subsequently increasing tax revenue. These changes are among the many that have been put in place through the Finance Act 2020 and the Tax Law Amendment Acts.
For taxpayers, the various measures that have been put in place and increased vigilance from the revenue authorities have heightened the need for tax compliance to fuel business continuity. This has pushed many organizations to establish tax functions as one of the core functions since tax non-compliance has proofed a costly affair for many companies. Among the challenges associated with non-compliance includes unending tax disputes which have led to liquidation, unnecessary agency notices, huge tax demands and limited access to business opportunities especially where a tax compliance certificate is needed to close a business opportunity.
This seminar is geared towards highlighting key tax developments that have been put in place to promote tax compliance while taking into consideration the tax developments in the international space and the corresponding emerging issues on taxation. Specifically, the seminar will cover the following areas of tax as relates to tax compliance as well issues that are considered emerging in tax practice:
- The role of tax incentives and tax compliance – brief look at the Kenya tax incentive regime
- Taxation of the digital economy – the international developments and the local legislation (developments in pillar 1 and Digital service tax)
- Tax dispute resolution mechanisms- the efficacy alternative dispute resolution in enhancing tax compliance
- Voluntary tax disclosure program/ tax amnesty as a tool of tax compliance
- Key changes in the tax amendment law No.2 2020 vis a vis the tax amendment Law No.1
- Minimum tax vis a vis instalment taxes
- Emerging issues on VAT- Auto assessment & the missing trader syndrome
- Emerging issues on personal taxes, PAYE has been the key contributor to tax revenue, however, many organizations have put in place wage cut measures as a cushion against the effects of COVID-19. How will the future look like for personal taxes?
- Panel discussion – focus on what will tax compliance mean for an economy that has been described to be under recession?
Continuous Professional Development Units (CPD Units):
Members of ICPAK and those from reciprocating professional bodies will be awarded 14 CPD Units upon successfully attending all the sessions.
Tax partners & tax practitioners, Tax Accountants, Finance and non-finance officers involved in handling tax issues, KRA tax officers, representatives of KAM, FKE, KEPSA, KEBS, COFEK, National Tax Payers’ Association, scholars, economists, among others.
The workshop charges are Kshs. 10,000. Charges will cater for the workshop fees, meals during the seminar, learning materials and e-certificates of attendance.
Registration: Delegates are reminded to note that online booking for the workshop is mandatory on https://www.icpak.com/event-registration/Online Booking
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)
Further requests can be channeled to us via telephone calls on +254 721 388901, +254 719 074 000, (+254) 733 856262 or via email to Felista Kibe at firstname.lastname@example.org with a copy to: email@example.com
We encourage members to regularly visit our website https://www.icpak.com for updates.