THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Virtual Tax Compliance Seminar – Recording
Theme: Taxation considerations for economic development and prosperity
Date: 14th – 15th December 2021
Venue: Virtual
(This is one of the mandatory trainings for Practicing Certificate consideration)
Overview
Tax revenues provides a reliable source of revenue for the government in providing services to its people. Thus, mobilization of tax revenue remains to be a key agenda for any government. This came to fruition during this period of COVID – 19 where official aid and other grants from developed countries have shrunk and countries have the option of financing their operations through the use of domestic resources. The effects of the pandemic have plunged most countries into recession associated to slowed economic activities prolonged containment measures and limited access to COVID-19 vaccination.
The increased demand for domestic resources has drove many countries to review and realign their tax frameworks with a view to seal any leakages and boost revenue. Ranging from COVID -19 tax relief measures to integration of international tax proposals in domestic tax regimes there are quite a number of developments in both domestic and international tax environment.
Kenya has been at the forefront in the review of its tax framework. Over the pandemic period the government has instituted various measures ranging from what was known as COVID -19 tax relief measures, the ongoing review of the Income Tax Act and development of tax policy. Further, Kenya has been very active in shaping the international tax framework through the OECD Inclusive Framework. Through Finance Act 2021 proposed changes that are geared toward promoting the exchange of information and subsequently promote tax transparency.
Continuous review of tax mechanism has impacted heavily on the levels of tax compliance for taxpayers who have been affected by the pandemic. Increased scrutiny by the tax administration and the associated cashflow impacts calls for the need to always ensure tax compliance.
This seminar focuses mainly on the major developments on domestic and international tax frameworks that are geared toward promoting tax compliance. The seminar further, looks at the emerging tax issues linked to global and domestic tax outlook on basis of political and economic trends. Specifically, the seminar will cover the following areas of tax as relates to tax compliance as well issues that are considered emerging in tax practice:
i. Effectiveness of modernization of tax systems in Kenya and tax compliance
ii. Globalization and digitalization and tax compliance – the impact of the recent OECD two-pillar solution on international tax compliance and its impact on unilateral Digital service tax
iii. Country by country reporting & exchange of information as tools of tax compliance- requirement critical review of the recently released draft c-b-c regulations
iv. Emerging issues and tax outlook– what are compliance issues associated COVID -19, suspension of minimum tax, political influence. what next?
v. A review of tax framework in Kenya and its effect on tax compliance – the efficiency of tax administration, KRA and the various enforcement mechanisms.
vi. Panel discussion – focus on what the various tax proposal by the government and emerging issues means towards promoting tax compliance? – Pandora papers, increased KRA Audits, post covid 19 sustainability, what could be the tax proposals.
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending each of the sessions.
Target Audience:
Private and Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, Tax Experts, Transaction Advisors, Engagement Partners and Key Audit staff, Banking, Extractive and SMEs sector accountants, Auditors, Practitioners, Tax Practitioners, Professionals working in County Governments and private sectors, Academia, employees of the NPO Sector.
Cost:
Charges for the training will be Kes 10,000/= which will cover workshop fees, materials, and e-certificates of attendance.
Online Booking:
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)