THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
THE 8th ANNUAL TAX CONVENTION
THEME: TAXATION IN THE CURRENT UNCERTAIN ENVIRONMENT
Date: 25th – 29th October 2021
Venue: Sarova Whitesands Beach Hotel, Mombasa
The advent and effects of the COVID-19 pandemic has put pressure on governments and economies worldwide to raise sufficient revenue in an equitable and efficient manner. Meanwhile, the nature of economies is changing rapidly; advanced innovations and technological changes, increase in population, climate change and political situations continue to change approaches to policy making. Globally, governments are exploring new taxation approaches to address negative externalities and finance provision of public goods and services in the ever-changing world.
Locally, COVID-19 pandemic continues to pose serious challenges to households and economy at large in Kenya. Government restrictions including prohibition of public gatherings, restriction of movement, dusk to dawn curfew and other Covid 19 containment measures have led to business uncertainty. This has led to many companies including those that could potentially continue production to significantly scale down operations, lay-off workers or close down significantly affecting the economy.
In response to constrained environment, the government of Kenya enacted the Tax Laws Amendment Act 2020 to cushion households and revive the economy. However, with pressure to finance the budget and collect more revenue, some of these measures were repealed effective January 2021.
Themed “Taxation in the current uncertain environment,” the 9th Annual Tax Convention will be held on 25th to 29th October 2021, at Sarova Whitesands Hotel and Spa, Mombasa. The Convention will focus on recent developments in the Taxation arena locally, regionally and internationally with the aim of:
1. Identifying international best practices on implementation of fiscal policy and how the same can reshape Kenya’s post-covid recovery strategies;
2. Reviewing emerging trends and scenarios and assess their impact on tax and public finance in Kenya;
3. Making recommendations to the National Treasury, KRA and government at large (both National and County governments) on tax and fiscal policy developments necessary for economic debounce.
KEY TOPICS FOR THE CONFERENCE
1. Public Sector Budgeting and tax considerations in an Uncertain Environment.
The implementation of the third Medium Term Plan 2018-2022 has experienced several uncertainties including drought, floods, locust invasion, Covid19 pandemic among others. Moreover, history has had it that the Kenyan economy plunges pre, during and post General elections. Cognizant that 2022 is an electioneering year, all budget related bills have to be enacted before Parliament breaks in preparation for the General Elections. In this regard, the process of preparing the Fiscal Budget 2022-23 and Finance Bill, 2022 began earlier than usual.
The session will cover:
o Tax policy considerations/proposals to facilitate post covid recovery
o Budget making process in this uncertain period, the underlying risks and proposed mitigation measures both at the national and county level
o Priority funding areas for the economy in an election year; and in the middle of pandemic;
o Likely effect of the campaign period on revenue generation.
o Impact of the tight budget preparation schedule on public participation and parliamentary approval
2. Leveraging on technology for enhanced revenue collection and digitization of tax administration
Economies are currently grappling with technological changes, increase in population and new challenges such as continued growth of the digital economy that continue to change approaches to policy making. In Kenya, we have anchored provisions on regulation of the digital marketplace.
The session will cover:
o Emerging issues in the taxation of the digital economy
o Legal and regulatory gaps in the digital economy
o Measures undertaken to leverage on technology for taxpayer expansion and revenue collection
o iTax: key developments and strategic initiatives
o Opportunities for Kenya that the Digital Economy brings.
3. Taxation at County Level- Perspectives, Experiences, and Recommendations from the Counties
Article 209 (3) of the Constitution mandates the county governments to impose property rates, entertainment taxes; and any other tax that is authorized by an Act of Parliament. The Constitution further stipulates that the taxation and other revenue-raising powers of a county shall not be exercised in a way that prejudices national economic policies, economic activities across county boundaries, or the national mobility of goods, services, capital, or labour.
For the past six (6) years, the generation of enough own source revenue has been one of the major challenges facing county governments. In addition, businesses, private sector, and the public have raised concerns on the issues of double taxation at the county level during this period. To address this challenge, the National Treasury developed and finalized a National Policy to support the enhancement of County Governments on Own Source Revenue.
This session will focus on the perspectives, experiences and recommendations on county taxation and own source revenue for broader economic productivity.
4. Tax information Exchange and capacity building
In 2020, Kenya acquired the ability to exchange tax information with 130 jurisdictions globally following ratification of the Mutual Administrative Assistance in Tax Matters (MAC). The enactment of this convention enables tax agencies to adequately combat cross-border tax evasion and avoidance schemes. This is implemented by promoting international partnership and collaboration on exchange of information between the jurisdictions to enable them combat international tax crimes while respecting the fundamental rights of taxpayers.
From a tax perspective, the session will cover:
o Progress in the implementation of the Mutual Administrative Assistance in Tax Matters (MAC);
o Opportunity for a continental cooperative framework to address tax challenges in the continent
o Pursue more taxing rights for African countries, including on taxing the digital economy and BEPS.
o Role of taxation in preservation Africa Resources heritage
o Tax information exchange at continental level
5. Taxation and Foreign Direct Investment in Africa
The topic will focus on the nuts and bolts of attracting investors to Africa. The topic re-orients policy makers and players to think beyond revenue as a largely single objective of a tax system. Deliberate policy of attracting investors to Africa and Kenya in particular, will yield revenue to the exchequer far much more than having a small tax economy.
6. Developing Tax professionals for the future
The tax profession has grown by leaps and bounds over the years. Tax practitioners are spread in all sectors of the economy offering tax advisory services, consultancy, and tax education.
This session will explore avenues of empowering the tax practitioner for the benefit of the economy. It will attempt to answer the question of whether there is a supportive regulatory regime for tax professionals in Kenya.
7. Impact of Tax exemptions and incentives to tax revenue in Kenya
Tax incentives and exemptions provide favorable tax treatment of specific activities and are intended to encourage investment to specified sectors. Nevertheless, Kenya’s tax regime lacks an objective criterion to determine eligibility for incentives and minimize potential abuse.
Over the years, the government has rolled incentive schemes to facilitate reliefs across the value chain and motivate investment and production. This begs the question on the impact of these incentives and exemptions to the economy.
8. Big 4 Agenda and Post-Covid Recovery in Kenya
President Uhuru Kenyatta is in his last year of his tenure. The focus of his second term has been the implementation of the Big 4 government agenda: Housing, Food Security, Universal Health Care and Manufacturing. The momentum was disrupted by the outbreak of COVID-19 pandemic.
The session will focus on the progress made so far in implementation of the Big Four Agenda as we come to the tail end of the Third Medium Term Plan of Vision 2030, 2018-2022.
9. Private sector and post-Covid19 recovery- an investors perspective
The private sector play an important role in driving economic growth. COVID-19 pandemic continues to pose serious challenges to households and economy at large in Kenya. Investors and manufacturers faced challenges such as unstable cashflow and some had to lay-off workers or reduced their working hours and potentially scaled down production or completely closed shop.
Participants and delegates will have an opportunity to hear the intricate relationship of taxation and investment and how the Kenyan economy can recover from the COVID hangover through the lenses of the private sector.
10. Update on current developments on the Tax environment in Kenya
This is an open session that will update the delegates on the recent developments on taxation in Kenya including the Introduced changes to Direct and Indirect taxes (Income Tax, VAT, Excise, Customs), the Tax Procedures, Tax Agents, Tax Tribunal proceedings among others.
The convention invites the 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.
|Associate Members||KShs 55,000 per Delegate|
|Full Members||KShs. 65,000 per Delegate|
|Non-Member||KShs. 70,000 per Delegate|
**** The cost caters for training fee, training materials, certificate and meals during the conference. Please note that delegates are required to make their own travel and accommodation arrangements.
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).
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