TAXATION MASTER CLASS 2024 EDITION 1(MANDATORY TRAINING)

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)

TAXATION MASTER CLASS 2024 EDITION 1 (MANDATORY TRAINING)
Date: 4th to 8th March 2024
Venue: Enashipai Resort & Spa, Naivasha
Theme: Upskilling professionals to navigate headwinds in a Dynamic and Changing Tax Environment

(This is one of the mandatory trainings for Practicing Certificate consideration)

OVERVIEW

Taxation has been at the heart of the nation’s economic growth and transformation discussion over the years. Taxes affect employment, consumption and investment and are indeed found to have significant implications for economic growth, as measured by the Gross Domestic Product (GDP). Yet, taxes are also known to affect much broader aspects of social welfare; according to the IMF, taxes play a pivotal role in any redistribution that takes place through the state’s budget. Its paper on Tax Policy and Inclusive Growth, the IMF posits that taxes are a means to an end, namely, to finance public spending.

The last five years have witnessed a massive increase in automation and digitalization of revenue collection by many revenue administrators. Digitalization has been fronted as a means to enhance efficiency in revenue administration and promote robust tax avoidance and evasion responses that may negatively affect revenue collection.

In the same breadth, Kenya has instituted several reforms aimed at boosting tax revenues and improving the tax system over the medium term. These reforms as elaborated in the Medium-Term Revenue Strategy 2024/25- 2026/27 that focuses on increasing revenue collection by an additional 5% of the GDP, increasing tax compliance rate by 20% and aligning tax policy objectives with other government priorities such as ease of doing business and trade policies.

The government in 2023 introduced a number tax measures (tax increments and new taxes) through the Finance Act 2023 and other statutes in efforts to increase revenue collection and help Kenya contain its fiscal deficit through reduced borrowing.

The 2024 Tax Environment in Kenya will thus, largely be defined by the government’s revenue growth target of 17.8% of tax revenue to GDP in FY 2024/25 and over 18.3% in the medium term as well as effective implementation of the National Tax Policy and the Medium-Term Revenue Strategy (MTRS) provisions.

It is against this backdrop that the Taxation Masterclass, First Edition 2024 is premised.

COURSE OBJECTIVES

Participants will be able to benefit from the following upon successfully completing the Masterclass:

1. Gain insights and thorough understanding of Kenya’s tax strategy, concepts, laws and procedures
2. Review emerging tax trends and scenarios and assess their impact on individuals, businesses and institutions
3. Explore the latest tax developments on the global scene.
4. Acquire practical know-how and develop critical tax practice skills necessary for business transformation
5. Network with experts in tax and other participants

 KEY TOPICS

The following topics on taxation will be explored at the Taxation Masterclass, First Edition 2024:

1. Tax Environment 2024: Focus on prospects and emerging taxation trends
2. Review of the imperatives of the National Tax Policy and the Medium-Term Revenue Strategy (MTRS) provisions
3. Tax Administration Automation – focus on iTax, TIMs and e-TIMs: Onboarding and Implementation, strategies for effectiveness and inhibiting challenges to the taxpayers
4. VAT – Auto populated VAT Return, VAT Special Table and other updates
5. Excise Duty Regime–Status and Impact Assessment to Kenya
6. Sector based in-depth taxation lessons: Breakaway sessions for NPOs, Financial Services, Public Sector, Consultancies, FMCG, Construction
7. Taxing the Digital Economy in Kenya – emerging trends and policy options
8. Tax Returns Filing: Practical sessions for different sectors and resolution of filing challenges (Breakaway sessions)
9. Tax Dispute Resolutions: Case Law Review and Engagements with the Tax Appeals Tribunal and Management of KRA audit queries.
10. International Taxation: Transfer Pricing, BEPs and Double Taxation Agreements.

This training is one of the mandatory trainings for Practicing Certificate consideration. It is also open to all Tax Professionals, Audit Practitioners, Senior Management of Organisations, CEOs and Boards.

All members who would wish to practice in the future are also encouraged to enrol on the course as it provides practical skills required for effective performance of their roles in taxation and tax advisory services.

TARGET AUDIENCE

This training is one of the mandatory trainings for Practicing Certificate consideration. It is also open to all Tax Professionals, Audit Practitioners, Senior Management, CEOs and Boards. All members who would wish to practice in the future are also encouraged to enroll for the course as it provides practical skills required for effective performance in taxation and tax advisory services.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from reciprocating professional bodies will earn 20 CPD units upon successfully attending all training sessions.

FINANCIAL INVESTMENT

The Masterclass charges are Kshs. 90,000 for both members and non-members. The charge is exclusive of transport and accommodation. Delegates are required to cater for their transport and accommodation requirements.

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).

PARTNERSHIP OPPORTUNITIES
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or inquiries please email raphael.nguli@icpak.com.

For further inquiries, kindly contact  Brenda Imali at brenda.imali@icpak.com with a copy to marketing@icpak.com  or reach us on call: +254 719 074000/129

We encourage members to regularly visit our website www.icpak.com for updates