Regional Tax Seminar – Western 2019 | ICPAK | 16 October 2019 | Kakamega Golf Hotel, 50100 Khasakhala Road, Kakamega, Kenya

An appraisal of Kenya’s public finances reveals significant disparity between the revenue and expenditure of the government, resulting in growing deficits. In 2018, the Finance Act was signed into law with clauses seeking to enlarge the tax bracket with the goal of reducing deficits and making revenue collection efficient.

The Finance Act 2018 resulted in major changes including the replacement of turnover tax with presumptive tax which stands to impact small and medium size traders in the country. It also introduced VAT on petroleum products at a concessionary rate of 8%, an unprecedented revenue raising move by the National Treasury. Excise Duty has also been revised upwards on services such as money transfer by banks and financial services institutions. The Act further introduces the National Housing Development Fund levy which is an employee and employer housing levy/contribution of 1.5 per cent up to a maximum of Ksh. 5,000 per month.

These, among other changes, have received mixed reactions from the public with some perceiving them as a precursor to a rise in cost of living. These developments have advised the organization of this workshop to prepare professionals to expertly handle the new tax regime. Topics to be covered include:
• Unbundling the National Housing Development Fund levy
• Tax assessments and dispute resolution in the Current Tax Systems
• Highlights from Tax Appeals Tribunal Act
• Tax payers rights and obligations under the Tax Procedures Act
• Recent updates on Tax Case Law
• Amendments to Select Legislation – Accountants Act, Central Bank of Kenya Act, Banking Act, Retirement Benefits Act and other affected legislation
• Implication of the Finance Act, 2018 to the economy and Tax compliance in the Current Economic Outlook – are the tax changes championing economic growth?