TAXATION MASTER CLASS (MANDATORY TRAINING)

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

TAXATION MASTER CLASS (MANDATORY TRAINING)
Theme: Developments and changes in the Kenyan tax landscape
Date: 5th to 9th June 2023
Venue: Sarova Whitesands Beach Resort & Spa, Mombasa
(This is one of the mandatory trainings for Practicing Certificate consideration)

OVERVIEW

Taxation as a concept and practice has gained traction in recent years as the imperative source of revenue for the government of Kenya geared towards implementing the development programmes. It is worth noting that budget pressures, inflation and the inadequate revenue generation measures dictate that sound tax management is essential for the government to provide public services to its citizenry.

Kenya has been on a steady pathway in developing the Tax policy to streamline tax administration in Kenya. Due to its importance, tax policy debates and decision making have been critical to the public, to businesses and the economy at large owing to the varied impact that it has on each of these entities.

Recently, multiple announcements have been made by the current administration on the measures to be undertaken with the aim of increasing revenue collection. An example is the President William Ruto’s speech on New Year’s Eve where he indicated that the Kenya Revenue Authority (KRA) will increase revenue collection to KES 3 trillion by next year, and double tax collections in the next five years.

In this Masterclass, distinguished experts will unpack some of the recent changes in tax laws in Kenya, current measures by the government to bolster revenue collection, anticipated tax law changes in 2023, and the potential benefits and detriments in respect of business operations in Kenya to and the potential impact on business operations in Kenya.

The objectives of the Masterclass were to enable participants appreciate the recent developments in the Taxation arena locally, regionally, and internationally through:

1. Deepening their understanding on the new developments within the taxation sphere.
2. Acquiring Practical know-how and develop critical tax skills necessary for engagements in Kenya.
3. Proposing areas of effective tax practices relevant to unlock the efficiency and effectiveness in the tax administration in Kenya and beyond the borders.
4. Participating in interactive group discussions and case studies related to tax practice in Kenya.

TOPICS

The Master Class will employ different learning techniques such as case studies, examples, illustrations and practical scenarios and will focus on:

1. Inflation adjustment on specific rates applicable under the excise duty act & miscellaneous fees & levies act
2. 2023 Income Tax Act changes- Taxation of gains made from Commodity Markets outside Kenya.
3. Mainstreaming taxeducation into the curriculum.
4. Taxation of Income from Business and Investment
5. Changes in the Preferential Tax Regime- 2023
6. Cross-border taxation
7. The role of Tax Invoice Management System (TIMS) in plugging loopholes resulting from ETR Regime and standardization of tax invoices- a Practical Case from TIMS
8. The legal underpinning and guiding principles for tax incentives to various sectors of the economy in Kenya
9. Challenges and opportunities in the taxation of the informal sector in Kenya from a data-driven evidence perspective – (Practical Cases and Group Study)
10. Digitization of tax administration: A case of transition from cash-based to accrual accounting (Practical Case and Presentation)
11. Hits and misses in the implementation of Digital Service Tax law in Kenya.
12. Taxation of Insurance Companies in accordance with Section 19 of the ITA- (Practical examples)
13. Taxation of financial derivatives from the Kenyan perspective

 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.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from reciprocating professional bodies will earn 20 CPD units upon successfully attending all training sessions.

FINANCIAL INVESTMENT

The Masterclass charges are Kshs. 80,000 for both members and non-members. The charge is exclusive of transport and accommodation. Delegates are required to cater for their transport and accommodation requirements.

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 inquiries please email raphael.nguli@icpak.com.

For further inquiries, kindly contact  Brenda Imali at brenda.imali@icpak.com with a copy to memberservices@icpak.com  or reach us on call: +254 719 074000/129

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