Transfer Pricing Workshop

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

Transfer Pricing Workshop

DATE: 6^th -7^th June 2017

VENUE: Hilton Hotel, Nairobi.

TIME: 8am to 5pm

Theme

The theme of this workshop is “Transfer pricing and its place in the Kenyan taxation system”. The workshop is designed to demonstrate the technical aspects of transfer pricing – meaning, its drivers, the Kenyan experience as well as the various global trends and their impact on the Kenyan taxation system.

Overview of the training

The purpose of this workshop is to enable the participants to gain a deeper understanding and acquire skills necessary for the appreciation of how transactions between related parties, be it sale and purchase of goods, financial, intangibles or services oriented, may impact on their tax obligations primarily in Kenya, but also in other jurisdictions. Such an understanding will enable the participants become compliant with the relevant tax legislation.. The workshop will also provide illustrative examples to enable participants to use their knowledge and experience to discuss applications and possible challenges in implementation of the transfer pricing requirements and developments as they emerge around the world.

For your businesses to prosper, it is the responsibility of the management to build on a strong foundation and grow it in a sustainable way. Managing your tax obligations responsibly and proactively can make a critical difference in the sustainability of the business. This is more true today for that entrepreneur with the desire to venture beyond jurisdictional boundaries.

Transfer pricing affect the supply chain and the financial system of an organization in critical ways: question like where do we source our raw materials or finished products, where and to whom do we sell our products, how do we finance our business; bring to the fore potential transfer pricing risks in a big way. These invisible taxes pose unique challenges to national tax functions can have significant impacts — on cash flow, absolute costs and risk exposures.  As such potential risks arising from related party engagements must be monitored and managed in a more pro-active manner so as to mitigate these in good time and save businesses their best asset: reputation.

Participants at the workshop will be equipped with the relevant skill sets that enable them understand the transfer pricing consequences of their day-to-day business transactions and identify risk areas and come up with sustainable tax planning opportunities, throughout a tax lifecycle. The workshop will provide both your finance and operational team with the effective processes to help improve your day-to-day operations and reporting with a view to pro-actively managing any potential transfer pricing risks leading to significant adjustments and penalties.

The workshop will also give a highlight on some of the transfer pricing audit issues that arise in dispute with the Kenya Revenue Authority (KRA) and possible ways in which may help in resolve disputes and issues with the tax authorities.

There have also been numerous changes as well as proposed changes in the global arena around international taxation, key among them transfer pricing. The Organization for Economic Co-operation and Development (OECD), having been mandated by the G20 countries to come up with internationally acceptable actions plans for curtailing Base Erosion and Profit Shifting (BEPS) by multinational enterprises (MNEs), came up with 15 Action Plans   which are said to bring tax transparency to an all new level. These International changes have already found their way into Kenya and are guaranteed to be used by the tax authorities in evaluating your tax compliance status.

The Institute has set up a two-day workshop to provide insights in the changes to tax legislation and offer practical guidelines to implementing the selected laws covered in this module.

Objectives

At the end of the workshop, participants are expected or should be able to:

1. Gain an understanding of what is transfer pricing and its place in the Kenya taxation system;
2. Get better understanding of the global developments around transfer pricing
3. Appreciate the impact of all these changes, both local and global, on the day-to-day business processes and eventually their accounting reporting systems ;
4. Appreciate some of potential areas of tax planning to minimize potential tax disputes; and
5. Manage any tax audits that may arise

 Why the workshop is beneficial to you?

Transfer pricing occurs at every stage of a supply chain of a business process for the affected entities, that is, the MNEs: from the procurement of goods/services, the financing of the operations, the management of the organization, and the operating systems to the every end when a sale is done. Therefore, transfer pricing impacts on every aspect of supplies and transactions that businesses engage in on a daily basis. As a participant, you will be able to apply these changes in your sourcing agreements /plans and reporting and also positively engage with other departments of the business on how these changes impacts on their business decisions.

The participants will also be able to proactively engage with the revenue authority during audits and manage any issues that may arise from such audits.

This workshop will give you a practical opportunity to apply the new changes and to be ready for the changes by proactively changing business processes, if need be, so that all is aligned with the tax requirements.

1.0 Target Audience:

Tax consultants, Accountants in the multinational and manufacturing firms, Academia and KRA officers.

2.0 Online Booking

Kindly note that booking for the Transfer Pricing Workshop 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. Delegates are urged to note that the bookings close on 5^th June 2017 at 1700 hrs

3.0 Transfer Pricing Workshop Charges:

 The Charges for Transfer Pricing Workshop which cover workshop materials, meals, and e-certificates of attendance is as provided under;

 4.0 Continuous Professional Development Units – 14

Members of ICPAK and other reciprocating professional bodies will earn 14 CPD points upon successfully attending Transfer Pricing Workshop

5.0 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).

6.0 Sponsorship Opportunities & additional information

The Transfer Pricing Workshop attracts over 200 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through raphael.nguli@icpak.com

Further requests for the Transfer Pricing Workshop can be channelled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to emma.opiyo@icpak.com . We encourage you to regularly visit our website www.icpak.com for more updates