Tax Matters and Emerging Issues Seminar - Wajir,North Eastern Branch

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

Tax Matters and Emerging Issues Seminar

DATE: 15 – 17 November, 2017

VENUE: Wajir Hilton Palace – North Eastern Branch

1.0 About the Seminar

In the past fiscal year, the KRA was able collected KES 1.4 trillion. While this was a record collection, KRA fell short of their target and the Kenyan Budget. Currently the Kenyan budget for this fiscal year is KES 2.6 trillion. Indeed, our budget keeps on bulging but not proportionate to the growth of our economy and thus the significant huge tax collection deficits.

In an attempt to balance off the ever-increasing gap between the budget and the collectible taxes, the government has over the recent past fully embraced technology, dealt with the legislation framework complexity, widened the tax base and adopted pretty aggressive follow up on elusive taxpayers. Unlike before, small and medium tax payers are now on KRA’s radar screen. Things have changed and are bound to change even further. This workshop intends to equip you with key tax updates that will assist you beef up your tax compliance status.

Some of the areas to be addressed include:

1. Feedback from the Office of the Auditor General on the county Government Audit Report:

• Key Audit findings for the County Assembly and County Executive

2. Key Forensic Audit Issues:

• Current events and developments in forensic accounting
• Forensic audit procedures and use of technology
• What is the audit of the future?

3. FiRe Award Specific Feedback

4. Income Tax policy updates 2017– looking ahead

• Income Tax Developments
• Proposed legislation and tax reform
• Notices and regulations

5. Taxation of Employment Income:

• Cash and non-cash benefits
• Non-taxable benefits
• Allowable deduction against taxable employment income
• Relief against taxable employment income
• taxation impacts

6. Corporation Tax

• Taxation of corporate entities
• Allowable and disallowable expenses
• Excess pension contributions
• Recent changes and emerging issues

7. Alternative Dispute Resolutions

• Mediation is an alternative
• Importance and benefits of CAMPS to ICPAK members dispute resolution process

8. County Tax Matters:

• Statute Law Amendment Act
• County Levies and taxes (Agriculture, General Manufacturing and additional Levies)
• Sub-Taxes: CESS, stamp duty
• Tax Exceptions
• Withholding taxes

9. Recent Developments in Accounting Standards and their impact on taxation (IFRS 9, IFRS 15, 17, IPSAS25 and IAS19 among others)

• Target Audience:

This workshop will be most beneficial to delegates drawn from both the public and private sectors particularly; Associate Members, Internal & External Auditors, Accountants, Staff Working in Audit Firms owned by Members, Members in Practice, Preparers of IFRS Financial Statements, Non-Auditors with Internal Control Responsibilities, Academicians and Consultants. Audit and tax practitioners, Personnel handling tax issues in organizations, Representatives from KRA, Tax payer’s association, Chief Finance officers, Academia.

• Seminar charges:
  

 The charges for  Tax Matters& Emerging Issues Seminar are as provided below:

Members of ICPAK and of reciprocating professional bodies will earn 20 Structured CPD Units upon full attendance

4.0 Online Booking

Kindly note that booking for the Audit Quality Assurance and Tax Matters is available only online at https://www.icpak.com/event/audit-quality-assurance-tax-matters-seminar-north-eastern-branch/

5.0 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).

6.0 Sponsorship Opportunities & Additional Information

The Tax Matters and Emerging Issues attracts close to 50 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through raphael.nguli@icpak.com. Other requests for information can be channelled to us via telephone on +254 733 856 262/ 727531006/ 733856262/ 721469169 or via email to brenda.imali@icpak.com .  We encourage you to regularly visit our website https://www.icpak.com/event-registration/ for updates on the Seminar