THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Tax Compliance Workshop
Date: 1st – 2nd March 2023
Time: 9.00am-3.30pm
Venue: Online
Overview
The national treasury recently released the 2023 budget policy statement BPS and invited public comments to facilitate submission to parliament as required under section 25 of the public finance management act. A keen review of the outlook for the government revenues and specifically taxation points out to an evolving tax landscape. With income tax projected to contribute an additional ksh194billion to the exchequer in 2023/24 financial year the government focus has been seen to be tax base expansion therefore shifting the spotlight to micro small and medium enterprises sector. The taxman is also banking on technology and administrative reforms to drive tax base expansion. These new changes call for collaboration of different functions within corporate entities such as finance personnel, ICT, legal and compliance to ensure strict adherence to taxation requirements.
Managing tax and other statutory compliance requirements in the current complex business and regulatory environment is not a walk in the park. The accelerating pace of globalization, changes in accounting standards and new developments in tax policy as well as political landscape require professionals to keep in constant touch with these changes. This has pushed many organizations to establish tax functions as one of the core functions since tax non-compliance has proofed a costly affair for many companies. Among the challenges associated with non-compliance includes constant tax disputes which have led to freezing of operations, unnecessary agency notices, huge tax demands and limited access to business opportunities principally where tax compliance is a competitive advantage for business opportunities. It is against this background that the Institute has organized this important 2-day virtual seminar to have an in-depth discussion key tax compliance matters and emerging issues affecting professionals.
The following key topical areas will form basis of discussion.
- Canons of taxation administration
- Conducting an Effective Tax Health Check
- Updates on Itax and TIMS compliance requirements
- Innovations in Tax Compliance and Current i-Tax Changes and Emerging Issues
- VAT Compliance
- Withholding Tax Compliance
- taxation of the digital economy – the international developments and the local legislation
- Current i-Tax Changes and Emerging Issues
- Updated on Tax dispute resolution mechanisms in enhancing compliance.
- Impact of the tax amendments on financial reporting across different sectors
- Updates on Fundamentals of Customs duty and Excise duty
- Updates on Fundamentals of corporate tax
- Tax obligation on Employment income
- Tax dispute and Litigation process
Target Audience
This workshop will be useful to all professional Accountants and those aspiring to join the profession
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending the session.
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)
