THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
THE 6th ANNUAL TAX CONVENTION
Theme: Taxation and Public Finance – Consolidating the Gains in a Digital Market Place
Venue: Sarova Whitesands Beach Hotel
Date: 24th – 27th September 2019
The world social and economic fabric is increasingly changing with the increase in innovation in all spheres of the economy. Key influences have included free movement of capital and labour, the shift of manufacturing bases from high-cost to low-cost locations, the gradual removal of trade barriers, technological and telecommunication developments, and the ever-increasing importance of managing risks and of developing, protecting and exploiting intellectual property. These key indicators have had an important impact on the way of doing business. These developments have a dynamic shift in the conventional business models, management of fiscal and monetary policies as well as the development agendas of countries’ public finances, taxation and growth trajectories.
Current global reforms include efforts at the UN Tax Committee and at the OECD’s BEPS project to shift this paradigm. On a regional front, there has already been the development of the AU Vision 2063 which has already resulted in 44 of Africa’s 55 countries signing the Africa Continental Free Trade Area (ACFTA) agreement in Kigali, Rwanda during an African Union summit in March 2018. With the agreement, countries will henceforth take advantage of the other country’s competitive and comparative advantages ranging from natural resources, expertise or even geographical coverage.
The promulgation of the Constitution of Kenya 2010 was a watershed in reforming how we govern ourselves. Article 201 of the constitution outlines the principles of public finance management and provides for among others; openness and accountability, equitable sharing of the burden of taxation, equitable sharing of revenue raised, public finance expenditure that promote equitable development, equitable sharing of burdens and benefits in the use of resources and public borrowing between the present and future generations; and prudent and responsible use of public resources. Further, the country instituted public finance management reforms aimed at ensuring both fiscal discipline in the use of public finances for greater efficiency and ultimately for the betterment of the Kenyan people. In this regard, the country enacted the Public Finance Management Act No. 18 of 2012, VAT Act 2013, Excise Duty Act 2015, Tax Procedures Act 2015, Public Finance Regulations 2015 and recently, draft Income Tax Bill 2018 to overhaul the income tax regime.
Notwithstanding the legal provisions and reforms above, an appraisal of the public finances of Kenya reveals significant imbalance between government revenue and expenditure resulting in growing fiscal deficits. In line with the Government’s Vision 2030 and the Big Four Agenda, this Conference will seek to address some of the questions lingering in many minds, including whether the reform agenda is long-term in focus, or whether it seeks to deal with short-term quick fixes, as a path to addressing the Government’s financing for development challenges. How well does the PFMA anchor the constitutional principles above? Is there a comprehensive public finance and tax policy framework in Kenya and; where and how should the government focus its public finance and tax strategies in the long-run?
Join us at the 6th Annual Tax Convention themed “Taxation and Public Finance – Consolidating the Gains in a Digital Market Place” to deliberate on emerging global, political, economic and technological trends and examine how they will reshape Kenya’s public finance, tax, fiscal and monetary policies and practice.
2.0 TARGET AUDIENCE
We invite participation of professionals in public and private sectors, public finance practitioners from the National Government Ministries, Departments and Agencies, County Governments, Regulatory Bodies, Independent Commissions, Constitutional Offices, Development Partners, Academicians, researchers and graduate students from both public and private institutions, NGOs, CSOs, and International Organizations with a focus on public finance management and tax. Audit Firm Tax Partners, County Executive Committee Members, CEOs, CFOs and Tax Officers in Property Management Firms, Finance Officers, Accountants, Tax Accountants, KRA Tax officers, Representatives of KAM, FKE, KEPSA, KEBS, COFEC, National Tax Payers’ Association.
The conference aims to deliberate on fiscal policy and public finance imperatives as key drivers of sustainable national development and will be guided by the following specific objectives:
- To take stock of the 2010 Constitutional Dispensation and how its implementation has strained our resource base. Is it the time to change tact and clamor for a referendum to amend the articles that continue to deplete of meagre resource base?
- To identify international best practices on implementation of fiscal policy and how the same can reshape Kenya’s future in terms of public finance and tax regime;
- To review global and continental emerging trends and assess their impact on tax and public finance in Kenya;
- To review the impact of the ‘BIG FOUR’ Agenda on tax and public finance management in Kenya; and
- To diagnose the soundness of Kenya’s fiscal health through the perspectives around: demonetization of Kenya Currency, Tax Modernization, capping of interest rates, e-government and introduction of Huduma Namba.
Cost of Implementing the 2010 Constitution: Time for Review & Amendment?
The implementation of the 2010 Constitution saw the creation of 47 additional governments that are headed by 47 “presidents” – the governors and full-fledged “parliaments”. A new legislative body “the Senate” was created and a new breed of Members of Parliament – the Women Representative, sprung up. In addition, dozens of new institutions were created. This strained our resources as a country, and it is an opportune time for Kenya to take stock of the cost of running the new constitutional and decide whether this is sustainable especially in the following key areas:
- Is time ripe for Kenya to amend its constitution?
- Do we need to run 47 county governments, or we can reduce the same to 15 or better still, 8 – as per the former colonial 8 provinces?
- Do we need the Senate? And the Women Representative post? Which institutions, posts and parastatals can we scrap to cut on the spiraling wage bill?
Regional Integration for Sustainable Development in Africa
- Expected benefits of the African Continental Free Trade Area (AfCTA)
- Challenges to regional integration in Africa and effect to resource mobilization
Developing Kenya’s Tax Policy: Does Kenya have a Tax Policy?
This is a rhetorical question since we do not have an existing tax policy. There is an urgent need to develop an exhaustive tax policy that will shape our fiscal destiny in the competitive world that we live in. Key areas of focus will include:
- Rationale and need for an overarching tax policy: best international tax practices
- Widening the tax bracket (presumptive tax vs turnover tax)
- Harmonization with other legislation
- Stability of tax regime
Emerging Digital Technologies for Kenya: Exploration and Analysis for Taxation
This session will focus on the report by the “Distributed Ledgers Technology and Artificial Intelligence Taskforce”. The session will cover the following areas;
- Taxation of Digital Trade – the Opportunities and Challenges.
- Artificial Intelligence learning in Africa including blockchain and cryptocurrency
- Digital asset framework
- Regulatory Sandbox for FinTech innovations
- Tokenization of the economy
- Facebook libra/libra blockchain
Revenue Sharing in Kenya- The Division of Revenue Conundrum:
This session focuses on persistent annual stalemates on Division of Revenue between the National and County Governments. The session will delve into the following specific focus areas;
- Who are the major players in the division of revenue in Kenya;
- Politics of revenue share: Role of Parliament in averting future crisis
- Impact and possible solutions?
Modernization of the Tax regime in Kenya
An in-depth review of proposed legislative and regulatory changes including the recently published draft Income Tax Bill 2019, and their impact on the fiscal policy and public finance in Kenya. The following sub-topics shall be considered:
- Finance Act 2019
- Draft Income Tax Bill 2019
Public Sector Budgeting: Towards an Accommodative Budget Calendar
In the current public sector budgeting regime, there has been a disconnect between National and County budgeting processes. This is also a manifest between what is provided for under legislation (Public Finance Management Act 2012) and practice. County Fiscal Strategy Paper approval timelines are close to the approval of the Budget Policy Statement at the National level (14 days after approval of BPS) thus giving counties insufficient time to align their priorities to the national agenda. The session will cover:
- A critique and review of the Kenya’s budget process/calendar;
- Budget execution and monitoring
Ethics in Public Finance Management
What causes unethical behavior? Is it culture, poverty or obvious opportunity? What are other countries doing to curb this behavior – case study – Botswana, Mauritius, Singapore, Thailand. Is government doing enough or is there political will?
Expanding the Tax Base
How has Kenya performed in expanding the tax base? If not, which thematic areas can we consider expanding the tax base? Will Huduma Number assist in expanding the tax base? Is e-government a solution? How can we apply technology to expand the tax base? What are the International best practices?
|Category||Early Bird Registration
Payment on or before 10/09/2019
Payment or LSO/LPO received after 10/09/2019
|Associate Members/Accounting Trainees||Ksh. 55,000||Ksh.65,000|
|Kenyan based Members/ACCA Members and IFAC PAOs||Ksh. 75,000||Ksh. 80,000|
|Non-members & International Delegates||Ksh. 80, 000||Ksh. 85,000|
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS – CPDs
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.
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).
The conference presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from cocktail, gala, media sponsorships, exhibitions and advertising. For more information or enquiries please email firstname.lastname@example.org
We encourage members to regularly visit our website www.icpak.com for updates.