THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
THE PREMIER TAX AND PUBLIC FINANCE CONFERENCE 2018
THEME: “A PARADIGM SHIFT IN PUBLIC FINANCE AND TAX – A CASE FOR KENYA’S DEVELOPMENT”
Date: 20– 23 November 2018
Venue: Sarova Whitesands Beach Resort & Spa – Mombasa
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 (FTA) 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 to 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, Income Tax Bill 2018 to review 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?
It is against this backdrop that the Centre for Public Finance and Taxation of the Institute has organized a premier public finance and taxation conference. The conference, themed – “ A Paradigm Shift in Public Finance and Tax: a Case for Kenya’s Development” is tailored to deliberate on the emerging global, political, economic and technological trends and examine how they will reshape Kenya’s public finance, tax, fiscal and monetary policies and practice.
The conference aims to deliberate on public finance and taxation imperatives as key drivers of sustainable national development and will be guided by the following specific objectives:
- To review the implementation of Chapter 12 of Kenya’s Constitution and the emerging consequences of the fiscal policies and practice;
- To diagnose the soundness of Kenya’s fiscal health, share experiences, interrogate and recommend best practices in Public Finance and Tax management
- 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
- Modernization of the Tax regime in Kenya: An in-depth review of proposed legislative and regulatory changes including the recently published Income Tax Bill 2018, and their impact on the fiscal policy and public finance in Kenya. The following sub-topics shall be considered:
- Tax Policy Development – a Precursor to Law Review
- Income Tax Bill 2017
- Finance Bill 2018
- Tax Laws (Amendment) Bill 2018
- The Impact of Technology on regional development: A review on the impact of Artificial Intelligence, Block Chain technology, Digital currencies and digital trade, Cyber Analytics, Big Data and other moves towards globalization. The session will cover the following areas;
- Taxation of Digital Trade – the Opportunities and Challenges.
- Conscious Capitalism – Redefining Success in a Digital Age.
- Block Chain and the Creative Economy – Which way for EAC Region.
- Cognitive Intelligence on Blockchain – an understanding of how AI and blockchains build cognitive systems for the future.
- Global Modification on Tax Policies due to Base Erosion and Profit Shifting: The UN and OECD Model Convention Perspective and other international trends such as OECD’s Common Reporting Standards. The session may consider the following study areas;
- Tax and Treaty Compliance under BEPS
- Multilateral Instruments and BEPS
- BEPS and Allocation of Taxing Rights: Current Global Shift from Residence towards Source Taxation.
- Multinational Groups – a New Era of Reporting
- Diagnosis of Kenya’s Fiscal Health: A review of Kenya’s revenue optimization and expenditure rationalization in light of the Big Four Agenda. The session will delve into the following specific focus areas;
- Striking fiscal balance – the Challenges for National and County Governments
- Low absorption of development budget – a growth stifling issue?
5. Public Borrowing and the Economy – a growth erosion trajector: A review of public borrowing trends, pricing and equitable sharing of burdens and benefits by the present and future generations
- Financing for development – Beyond Business as Usual
- Debt sustainability
- Mitigating debt financing operational risks
- Public Debt – the Crowding out effect on private sector.
- Public Finance Oversight – the Fading Role of Parliament: A critical analysis of the impact of parliament’s oversight role in enhancing value for money of the public resources. The session will address the following topical areas;
- Budget control for effectiveness
- Combating Fraud and Corruption in the Public Sector – Audit as an enabler
- Parliament-Public Collaboration on Oversight
- The intricacies of striking a balance between political sycophancy and integrity in the oversight role.
- Tax Policy for Competitive Advantage: Making Kenya a competitive and attractive investment destination is at the core of economic development. In this regard, the session will be driven to address the following;
- Tax incentives – to entrench or scrap?
- Beyond voluntary Disclosure Programmes
- Regional Integration: the Converging and Divergent perspectives of Customs and International Trade. The session will focus on:
- AU FTA – the Opportunities and Challenges
- Trade facilitation – Success of the regional economic blocks.
- Recent developments on anti-avoidance rules in the context of tax treaty.
- Rethinking Africa’s Fiscal Policy for Sustainable Development – Beyond Tax Revenue: exploring public private partnerships, concessions, natural resource rents and other initiatives;
- Tapping into Private Capital through PPP Arrangement; and
- Reigning in on Extractive Sector – Focus of Revenues Sharing Agreements.
- Tax Morality and Compliance – the debate between compliance by taxpayers, widening the tax base and its effect on Domestic Resource Mobilization
- Realizing Value for Money for greater tax compliance
- Tax Morality – to Pay or Not to Pay?
- County Government: Financing Devolution – developing self-sustainability of county and other administrative units of Government
- Growing Own Source Revenue for sustainability;
- wn Source Revenue for sustainabilityiance
- reas of s focus areas;
- Expenditure rationalization in the wake of dwindling tax revenues.
- Rewarding efficiency and effectiveness: Which way; Commission on Revenue Allocation?
This premier conference will attract the participation of world-class facilitators on public finance and tax to delve into the subject areas. Break-out sessions where panelists will discuss and initiate dialogue on the different identified thematic areas and topics will be initiated. Plenary sessions will be opened after each topic and/or thematic area to allow for conclusive way forwards. Prior to the conference, discussion papers will be commissioned to sector practitioners and experts to guide discussions on the thematic area and topic during the conference. The papers will further identify sub-themes for further discussions in smaller groups within a topic. The authors of the papers will be invited as key note speakers. Gala dinner and other outdoor activities will be organized to provide opportunities for direct interaction in addition to the more structured dialogues.
B. TARGET AUDIENCE
The conference 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. 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.
C. ONLINE BOOKING
Kindly note that booking for The Annual Tax and Public Finance Conference is available either online at www.icpak.com/events. Delegates are urged to note that the bookings close on Friday 16th November 2018 at 1700 hrs.
D. CONFERENCE FEE
|Category||Early Bird Registration
Booked & Paid for before 6th November 2018
Booking & Payments or LPOs / LSOs received after 6th November 2018
|Associate Members/Students||KShs. 65, 950||KShs. 70, 950|
|Members||KShs. 69, 950||KShs. 74, 950|
|Non Members||KShs. 79, 950||KShs.84, 950|
|International Delegates||850 USDs||950 USDs|
E. GROUP DISCOUNTS
The Institute has extended a group discount to Institutions that send more than five delegates. For every five (5) delegates, the Institution will get the 6th one conference fee waived. Book your group and pay within the early bird period. For further details, contact Raymond Kosgei at email@example.com and telephone number +254719074207.
F. CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD units upon successful attendance.
G. 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).
SPONSORSHIP OPPORTUNITIES & Additional Information
The Institute through the Business Development Department shall reach out to potential partners to sponsor this premier event. A sponsorship package outlining different categories will be developed to guide the process. Those interested in sponsoring this event can reach us through firstname.lastname@example.org.
Other requests for information can be channeled to us via telephone on +254 719 074100/129/153/155 or via email to email@example.com / firstname.lastname@example.org / email@example.com.
We encourage you to regularly visit our website www.icpak.com for updates on the Conference