THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
THE ANNUAL BUDGET REVIEW SEMINAR
DATE: Friday 22nd APRIL 2022
VENUE: Hilton Hotel, Nairobi.
TIME: 9:00am to 4:00pm
Introduction
The budget review seminar is an annual forum convened by the Institute of Certified Public Accountants of Kenya with the goal of assessing the national budget adopted by government. The review focuses on government’s expenditure priorities, revenue forecasts and their implications on tax and economic growth among other related issues. The 2022/2023 budget is pivotal as it will influence the success or failure of the administration in achieving its agenda.
In the FY 2022/23 revenue collection including Appropriation-in-Aid (A.i.A) is projected to increase to Ksh.2,405.3 billion (17.2 percent of GDP) up from the projected Ksh.2,036.1 billion (16.3 percent of GDP) in the FY 2021/22. Revenue performance will be underpinned by the on-going reforms in tax policy and revenue administration. Ordinary revenues will amount to Ksh.2,141.6 billion (15.3 percent of GDP) in FY 2022/23 from the estimated Ksh.1800.0 billion (14.4percent of GDP) in FY 2021/22.
According to the BPS 2022, the economic growth is expected to rebound to 6.6 percent in 2021 and 5.8 percent in 2022, reinforced by the prevailing stable macroeconomic environment and the ongoing implementation of the strategic priorities of the Government under the “Big Four” Agenda and initiatives under the Economic Recovery Strategy. Kenya’s budget process has inadequately facilitated accurate forecasts for resource collection. The common tendency has therefore been to make overly optimistic revenue projections leading to an increased uncertainty of resource flows.
The seminar will be structured to cover the following areas:
- The Budget Statement 2022: FY2022/23 Budget proposals and its Tax implications;
- Macroeconomic Outlook FY 2022-2023;
- Expenditure priorities FY 2022/23: Post Covid 19 Economic Recovery Strategy and the Big 4 Agenda;
- Division of revenue between national and county governments
- Budget Implementation Gaps – The journey towards fiscal prudence (A critical look at specific MDAs and County Controller of Budget and Auditor General reports)
Panel Discussion: Clarification of expenditure & revenue proposals – Update of recent corporate and individual tax developments
Target Audience
Audit and tax practitioners, Personnel handling tax issues in organizations, Representatives from KRA, Taxpayers’ association(s), Accountants, Finance Professionals, Auditors, Chief Finance officers, Academia.
Your Investment:
This Seminar shall be provided at a cost of KSh.8,000 and KSh. 10,000 for members and non-members respectively . The cost will cater for daytime meals, stationery and learning materials.
Continuous Professional Development Units:
Members of ICPAK and other reciprocating professional bodies will earn 7 CPD points upon successfully attending the Seminar.
Online Booking:
We call on all participants to note that booking 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)
