INTERNATIONAL TAXES & TRANSFER PRICING SEMINAR (MANDATORY TRAINING)

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

THE INTERNATIONAL & TRANSFER PRICING SEMINAR
Theme: Facilitating trade through international taxes compliance
Date: 3rd – 7th July 2023
Venue: Sarova Whitesands Beach Resort & Spa Mombasa
(This is one of the mandatory trainings for practicing certificate consideration)

 OVERVIEW

In the context of international taxation, concerns over uncertainty in tax matters and its impact on cross-border trade and investment heightened. At the request of G20 Leaders in Hangzhou, the OECD and the IMF explored the nature of tax uncertainty, its main sources and effects on business decisions and outlines a set of concrete and practical approaches to help policymakers and tax administrations shape a more certain tax environment.

For many multinationals with cross-border transactions, taxation that is based on transfer pricing is becoming a significant concern. Transfer pricing refers to the pricing of goods, services and intangibles between related parties located in different countries. The transactions between related parties are to be carried out at an “arm’s length” basis. Prices are meant to efficiently allocate resources in the market whereas the role of transfer prices is to efficiently allocate resources within a company as they move from one related entity to another.

The OECD Transfer Pricing Guidelines have changed considerably over the past few years. Consequently, policies are being reviewed and in some cases changes to pricing must be made. Multinational enterprises must determine now what practical implications they face and how they can best operate within this radically changed regulatory environment.

Addressing the tax challenges raised by digitalization is currently the top priority for the Inclusive Framework and has been a key area of focus of the BEPS Project since its inception. This work has delivered several important outputs covering both direct and indirect tax issues.

In Kenya, Transfer Pricing rules became effective from 1st July 2006 and borrowed significantly from the Organization for Economic Co-operation and Development (OECD) Transfer Pricing Guidelines. Under Section 18(3) of the Income Tax Act (ITA), transactions between a resident entity and it related non-resident should be at arm’s length. The Rules form the basis for the determination of the arm’s length price in transactions between related parties. They entitle the Commissioner to adjust transaction prices where he is of the view that the related parties did not transact at arm’s length.

The seminar intends to enhance the participants’ understanding of the international and transfer pricing by focusing on:

1. Introduction & history of income tax in Kenya and link to international taxes
2. Double taxation and related treaties and conventions
3. Personal & expatriates’ tax
4. Transfer Pricing Documentation
5. Transfer pricing compliance and emerging issues
6. Transfer Pricing and DTA
7. Income Tax and VAT exemption process
8. OECD Transfer pricing guidelines and the Arm’s length principle
9. OECD Risk Analysis: Key Considerations when Carrying out Risk Analysis
10. The implications of BEPS for Transfer Pricing
11. Country to Country (CbC) Reporting
12. Taxation of tourism and NGO sectors
13. Excise duty in the manufacturing sector.
14. Resolving and handling transfer pricing disputes
15. Practical guidelines on appealing KRA Assessments
16. Digital service tax and online international taxes
17. VAT on digital marketplace
18. Creating One African Market: The AfCFTA being one of the flagship projects of Agenda 2063.

 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.

 Financial Commitment:

The cost caters for training fee, training materials, certificate and meals during the conference. Please note that delegates are required to make their own travel and accommodation arrangements.

Note: Delegates are required to make their own travel and accommodation arrangements.

Continuous Professional Development Units (CPDs).

Members of ICPAK and those from reciprocating professional bodies will earn 20 Structured CPD points upon successfully attending all learning sessions.

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 enquiries please email raphael.nguli@icpak.com

Further requests can be channeled to us via telephone calls on, +254 719 074 100,  or via email to Monica Wanjiru  at monica.wanjiru@icpak.com with a copy to memberservices@icpak.com

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