INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Income Tax & Indirect Taxes Seminar – Recording
DATE: 11th – 12th April 2024
Time: 09:00am – 3:30pm
Mode of Delivery: Virtual
This is one of the mandatory trainings for practicing certificate consideration)
OVERVIEW
The greater reliance on indirect taxes as opposed to income taxes has played an important part in tax reforms implemented by numerous governments. In Kenya, we saw the overhaul of the Value Added Tax in 2013, the implementation of the Excise Act in 2015, and the ongoing processes of reforming the present Income Tax Act. All these activities are aimed at broadening the tax base and increasing tax compliance. The reforms also attempt to reconcile domestic tax regulations with international tax practice to the greatest extent practicable.
Governments frequently revise existing tax legislation to account for changes in business models. The rapid rise of the digital economy has resulted in numerous changes to the global taxation regime. In Kenya, for example, we have seen the implementation of a digital service tax and a Value Added Tax on digital services.
The symposium seeks to respond to and provide ways of tax planning on aspects of income taxes and indirect taxes through a detailed analysis of the existing legislations while leveraging on relevant case laws and studies. Specifically, the seminar will cover the following tax areas:
- Corporate income tax and the current developments
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- Introduction & history to income tax in Kenya
- Charge tax – forms of income subjected to corporate income tax
- Taxable income vs Gross income (turnover)
- Deductible and non-deductible expenses
- Thin capitalization
- Digital service tax
- Personal and expatriate’s tax
- Introduction and history of personal taxes
- Taxation of cash and non-cash benefits
- Taxation of terminal dues
- Statutory deductions and tax planning
- Value Added Tax
- Introduction to VAT and selected provisions
- VAT on imported services and Withholding Value Added Tax
- VAT Planning for Tax Compliance
- Excise Duty
- Administration of Excise Duty
- 2022 Excise Duty Regulations
- Customs Duty
- Customs Valuation and Tariff Classification
- Recent changes affecting imports duty
- Managing Post Clearance Audits
- Highlights on Revised HS Codes
TARGET AUDIENCE
This virtual symposium will be useful to all professional Accountants and other professionals interested in taxation.
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 10 Structured CPD Units upon successfully completion of the virtual symposium.
FINANCIAL COMMITMENT
The symposium charges are Kshs. 10,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance.
ONLINE BOOKING
Registration: Delegates are reminded to note that online booking for the workshop is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on interested participants to note that booking for the event is available online at www.icpak.com and will close two hours before the training session.
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)
Further requests can be channeled to us via telephone calls on +254 719 074 000, (+254) 733 856262 or via email to memberservices@icpak.com