THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Understanding tax evasion and tax avoidance: The link between tax evasion and money laundering / corruption Webinar
Date: 5th October 2022
Corruption, money laundering and tax evasion damage economic development as well as fairness among people. In addition, there is growing consensus that these activities are threats to the basic fabric of society including safety and security and to political stability.
Money laundering is a criminal offence aimed at presenting wealth of illicit origin or the portion of wealth that has been illegally acquired or concealed from the purview of tax and other authorities as legitimate through the use of methods that obscure the identity of the ultimate beneficiary and the source of the ill-gotten profits. The process of laundering money may occur in a variety of ways such as with the shrewd exploitation of a complex, interweaving web of secrecy jurisdictions and/or tax havens, the manipulation of the concept of legal persons and legal arrangements to concoct ‘shell companies’ that can operate as covers for corrupt individuals and the abuse of loopholes in existing anti-money laundering legislation.
Tax evasion must be addressed effectively because it deprives states from raising sufficient revenues therefore preventing them from implementing social, economic, environmental, cultural, and other policies. Tax evasion undermines the efforts of the government to promote welfare and social cohesion; it prevents it from performing its social function. Moreover, it erodes the credibility of democratic institutions, while injuring the trust of citizens in the means and ends of a legitimate, democratic government.
Considering the above facts, the Institute has organized a webinar on understanding tax evasion and tax avoidance to demonstrate the link between tax evasion and money laundering. The webinar will cover the following topical areas;
- The crime of money Laundering & Criminal enforcement
- Anti-money laundering requirements for financial institutions and other designated businesses
- Anti-money Laundering & Cryptocurrency
- Stages of money laundering
- Identification & Assessment of money laundering risks
- Mitigation of Money Laundering risks
- Difference between tax Evasion and tax Avoidance
- Establishing the link between money laundering and tax evasion
- Tax Fraud practices
- International Tax Evasion
- Penalties for tax evasion
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 2 CPD Units upon successfully attending each of the sessions.
Charges for the training will be Kes 1,000/= which will cover workshop fees, materials, and e-certificates of attendance.
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory. This 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.
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)