The Annual Tax Workshop- Coast Branch

Theme: “Navigating the Modernized Tax Regime”

Benjamin Franklin famously said “In this world nothing can be said to be certain, except death and taxes”, a phrase that is yet to be disputed centuries later. It is a particularly sobering thought for businesses as taxes greatly affect organizations’ bottom-line. Additionally, tax regimes evolve continuously towards modernization, forcing organizations to constantly restructure tax strategies in pursuit of optimum operations.With the local organizations in mind, ICPAK has organized the Annual Tax Workshop to update delegates on the recent developments in tax regimes and arm them with the requisite information to craft successful tax strategies. Participants will benefit from knowledge from experts and authorities on taxation.

Learning Outcomes

The sessions lined up for this seminar will cover:

• New Requirements on iTax

As Kenya Revenue Authority continues to improve on the automated system, iTax, organizations may find themselves struggling to keep up due to lack of information. This session will educate delegates on these developments and provide pointers for ease of operation.

• Capital Gains and Real Estate Taxation

Capital Gains and real estate tax are some of the most debated areas of the modern tax regime in Kenya. Questions and challenges in these areas will be tackled during this session which will be steered by the leadership of Kenya Revenue Authority.

• Tax Modernization – Recent Developments in the Kenyan Landscape

(Panel Session)

A panel composed of KRA officials and professionals in the region will review the reforms that have been witnessed within the Kenyan tax system in recent years. This session will embark upon any matters arising on the topic of taxation with the goal of exploring and resolving burning issues. Delegates will get a firsthand account of the transformations in the regime while offering valuable feedback to the officials.

• Insight into County Taxation – Mombasa County

Following Kenya’s devolution, businesses now have to grapple with taxation on a local, county level. While this has proven to be effective in bringing authorities closer to the citizens, finance and accounting professionals now have to learn new processes to support strategy development. Presented by top county officials, this session will discuss the Mombasa County Finance Bill and county budgeting processes among other pertinent themes.

• Tax Procedures Act: Amendments and Implications

The Tax Procedures Act (TPA) of 2015 sought to synchronize and consolidate the rules that govern tax procedures in Kenya. This session will educate delegates on the provisions within this law, which came to effect in January of 2016.

• Case Study: How Does Excellence in Taxation Look Like?

This session will examine different tax regimes to showcase how different systems have attained success. The delegates will also get a view of the indicators of an effective tax administration and the benefits inherent in such systems.

• Anti-Avoidance Provisions and the difference between Avoidance and Evasion

The 2016 budget outlined tax avoidance rules through avenues such as transfer pricing, thin capitalization and disclosure requirements. This session will cover an overview of these provisions as well as probe into the thin line between tax evasion and the legal avoidance of tax.

• Graft and My Role as a Taxpayer

The increasing cases of graft and the general lack of accountability in certain organizations is seemingly inexorable in Kenya. The country is losing money to the tune of tens of billions, yet no noteworthy steps have been taken to curb corruption.  The realization that this money is stolen from the taxpayers would make any Kenyan reluctant to comply. So what is our next move?

• Target Audience:

This forum will be most beneficial to delegates drawn from both the public and private sectors particularly; Audit firm partners, County Executive Committee members, Property management firms, Finance Officers, Accountants, Academia, KRA tax officers, Representatives of KAM, FKE, KEPSA, KEBS, COFEC, National Tax Payers’ Association, among other key stakeholders.

 Your Financial Commitment

The cost for attending the seminar is as below:

ICPAK members will be awarded 20 structured CPD Hours.