THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Tax Principles & Compliance Workshop
Theme: Understanding Legislative Requirements for Managing and Improving Tax Compliance
Date: 14th – 15th February 2024
Venue: Virtual
This is one of the mandatory trainings for Practicing Certificate consideration.
Overview
A good tax system is one which is designed on the basis of an appropriate set of principles (rules). The mode and timings of tax payment should be convenient to the taxpayer. It means that the taxes should be imposed in such a manner and at the time which is most convenient for the taxpayer. In the words of author John Maxwell, ‘Change is Inevitable, Growth is Optional. ‘ In order for businesses to deal with these changes, they must be flexible in their operations, anticipate as well as be proactive in their strategy formulation.
The primary goal of a revenue authority is to collect the taxes and duties payable in accordance with the law and to do this in such a manner that will sustain confidence in the tax system and its administration. The actions of taxpayers — whether due to ignorance, carelessness, recklessness, or deliberate evasion — as well as weaknesses in a tax administration mean that instances of failure to comply with the law are inevitable. Therefore, tax administration should have in place strategies and structures to ensure that non-compliance with tax law is kept to a minimum. Revenue authorities have a central role (and vested interest) in ensuring that taxpayers and other parties understand their obligations under the revenue laws. For their part, taxpayers and others have an important role to play in meeting their obligations as, in many situations, it is only they who are in a position to know that they may have an obligation under the law.
Organizations are not immune from Taxation, Reporting, and other Compliance requirements. The widely held perceptions on exemptions expose these organizations to significant risk of non-compliance penalties and fines. Furthermore, the emerging focus by KRA on NGOs and other NPOs for non-compliance on specific areas is evidence that these organizations must pay more regard to their compliance obligations. While several avenues are available for businesses to seek exemptions on specific areas, organizations must familiarize themselves with these requirements and the available exemptions and aggressively seek these exemptions. Boards, Trustees, Executive Committees, CEOs, HODs and other Managers must understand what the legislative requirements are, avenues for seeking exemptions and other planning measures that they can take advantage of as a basis of mitigating non- compliance exposures and reducing the overall costs to the organization.
This seminar focuses mainly on the major developments in domestic and international tax frameworks that are geared toward promoting tax compliance. The seminar further, looks at the emerging tax issues linked to global and domestic tax outlook on basis of political and economic trends. Specifically, the seminar will cover the following areas of tax as relates to tax compliance as well as issues that are considered emerging in tax practice:
- Canons of Taxation- the guiding rules and principle for effective and functional tax collection system
- The Compliance Risk Management Process
- The ripple effect of compliance interventions.
- Understanding taxpayer compliance behaviour
- Utilization of technology in Tax Compliance
- iTax Issues- Open Session
- Recognizing the difficulties of evaluating compliance.
- Tax system and reporting compliance
- Impact of Regulatory requirements on Tax Compliance
- e-TIMS Real-time-reporting (RTR)
- Current requirements on complying with Value Added Tax (VAT) in Kenya
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending each of the sessions.
Target Audience:
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).
