International Taxes & Transfer Pricing (mandatory training)

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

International Taxes & Transfer Pricing Workshop (Mandatory Training)
Theme: Driving Transfer Pricing Certainty in Uncertain Times
Date: 8th- 9th May 2024
Time: 9: 00am-3: 30pm
Mode of Delivery: Virtual /Zoom
(This is one of the Mandatory Trainings for practicing certificate consideration)

Overview

International taxes and transfer pricing are essential components for companies that conduct cross-border operations. Many countries have ratified double taxation agreements to reduce the possibility of having their income taxed in more than one jurisdiction. These treaties outline each nation’s taxing authority and provide procedures to lessen the difficulties brought on by double taxation. Leveraging these treaties can help companies doing business abroad maximize their overall tax liability and guarantee that they are in accordance with international tax laws.

Transfer pricing is crucial for Kenyan companies to comply with global operations and avoid fines and additional tax responsibilities. To ensure intra-group transactions comply with international standards, enterprises must keep detailed records, including comparative transaction selection and economic evaluations. Kenya could address tax evasion and profit shifting issues through international initiatives like the OECD/G20 Base Erosion and Profit Shifting (BEPS) project. Implementing country-by-country reporting requirements could improve transparency by forcing multinational corporations to disclose crucial data about their international operations and tax payments. Authorities can proactively monitor companies to verify compliance and prevent the country’s tax base from diminishing.

Companies could use tax planning techniques to improve their tax status as part of the larger international tax scene. This may include thinking about how withholding taxes affect international payments and planning transactions to maximize tax benefits. Because international tax laws are constantly changing, companies must keep educated, consult experts, and modify their plans as necessary to abide by both domestic and international tax laws. All things considered, companies in Kenya must successfully manage foreign taxes and transfer pricing in order to promote compliance, reduce risks, and support the long-term expansion of the economy.

Businesses are increasingly seeking certainty on their TP positions to facilitate more predictability in new calculations required to comply with the Pillar Two rules. This is evidenced by a surge in levels of interest in advance pricing agreements (APAs) and dispute resolution programs offered by tax administrations. This proactive approach allows for more certainty in both TP disputes and Pillar Two implementation. Both executives and TP professionals realize that data, in particular standard transfer pricing data, underpins certainty in controversy and predictability of Pillar Two calculations. The transition into both a tax environment in which the minimum taxes described in Pillar Two, as well as a more transparent world related to public disclosures of the Country-by-Country Reports, are compelling corporations to attempt to standardize their internal data to manage the groundswell of tax authority controversy-related requests and Pillar Two calculations. Specifically, standardized data will help businesses address workload demands and effectively manage current and anticipated tax controversy. More control over their data will also help businesses manage increasing demands for public transparency about their tax payments globally. TP executives are recognizing that they perform a very strategic role in their organizations. In this new world, where double taxation risks have increased rapidly, TP executives need to be more connected with the rest of the business and rely on technology to perform more traditional operations and compliance functions. This is especially true given the pressures of other externalities, including inflation, rapid changes in supply chains, and initiatives related to their organization’s environmental, societal and governance (ESG) objectives.

This seminar will be focusing on:

1. Double taxation treaties
2. Developing a robust transfer pricing policy to manage new risks.
3. Transfer pricing compliance.
4. Tax planning strategies.
5. Country by Country Reporting
6. International tax landscape
7. Taxation of digital economy
8. Customs duties and international trade: – Unpacking the Vital Role of Customs Controls in Shaping International Trade
9. Emerging Issues in International taxes and transfer pricing
10. BEPS Development on Taxation of E-Commerce

Target Audience

This training is one of the mandatory training courses 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 (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)

Further requests can be channeled to us via telephone calls on, +254 719 074 100,  or via email to Brenda Imali   at brenda.imali@icpak.com with a copy to memberservices@icpak.com

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