Description
Tax Compliance for Business & Finance Professionals in Kenya
Module 1: Introduction to the Kenyan Tax System
- Overview of the Kenyan Tax System
- Tax Laws and Regulations in Kenya
- Types of Taxes in Kenya
- Income Tax (Personal and Corporate)
- Value Added Tax (VAT)
- Excise Duty
- Customs Duty
- Other Relevant Taxes (e.g., Withholding Tax, Capital Gains Tax)
- Understanding Taxpayer Obligations
- Who is a Taxpayer?
- Taxpayer Rights and Responsibilities
- Importance of Tax Compliance
Module 2: Income Tax Compliance
- Corporate Income Tax
- Determining Taxable Income for Corporations
- Allowable Deductions and Taxable Deductions
- Tax Rates and Corporate Tax Computation
- Filing Corporate Income Tax Returns (IT2C)
- Understanding Payment Deadlines and Penalties
- Personal Income Tax
- PAYE (Pay-As-You-Earn) Compliance
- Self-Assessment for Individuals
- Tax Reliefs and Exemptions
- Filing Personal Income Tax Returns (IT1)
- Tax Planning Strategies for Individuals
- Withholding Tax
- Overview of Withholding Tax in Kenya
- Applicable Rates and Exemptions
- Filing and Payment of Withholding Tax
- Record-Keeping Requirements
Module 3: VAT Compliance
- Understanding VAT in Kenya
- Definition and Scope of VAT
- VAT Registration: Requirements and Process
- Understanding the VAT Rates (Standard, Zero-Rated, and Exempt)
- VAT Filing and Payment
- Preparing and Submitting VAT Returns (Form VAT3)
- VAT Input and Output Tax Computation
- VAT Refunds and Offsets
- Consequences of Non-Compliance with VAT Regulations
- Common VAT Challenges
- Handling VAT Audits and Disputes
- Managing VAT on Imported and Exported Goods
- VAT Compliance for SMEs and E-commerce Businesses
Module 4: Excise Duty and Customs Compliance
- Excise Duty
- Overview of Excise Duty in Kenya
- Goods and Services Subject to Excise Duty
- Filing and Payment of Excise Duty
- Penalties for Non-Compliance
- Customs Duty
- Understanding Customs Duty in Kenya
- Import and Export Procedures
- Tariff Classification and Valuation
- Customs Documentation and Clearance
- Addressing Customs Disputes and Appeals
- Special Tax Zones and Incentives
- Overview of Export Processing Zones (EPZ) and Special Economic Zones (SEZ)
- Tax Incentives for Businesses in Special Zones
- Compliance Requirements for Businesses in Special Zones
Module 5: Tax Compliance Best Practices and Risk Management
- Tax Compliance Best Practices
- Effective Record-Keeping for Tax Purposes
- Using Technology and Software for Tax Compliance
- Engaging Professional Tax Advisors and Accountants
- Regular Internal Tax Audits and Reviews
- Tax Dispute Resolution
- Understanding the Tax Dispute Resolution Process in Kenya
- Engaging with KRA during Audits and Disputes
- The Role of the Tax Appeals Tribunal
- Resolving Tax Disputes through Mediation and Arbitration
- Risk Management in Tax Compliance
- Identifying and Mitigating Tax Risks
- Addressing Tax Evasion and Avoidance Issues
- Preparing for KRA Audits and Investigations
- Consequences of Non-Compliance and Legal Implications
Description
Target Audience
- Business Owners and Entrepreneurs
- Finance Managers and Accountants
- Tax Consultants and Advisors
- SMEs and Start-ups
Course Objectives
- Provide participants with a thorough understanding of the Kenyan tax system.
- Equip business people and finance personnel with the knowledge and skills to ensure tax compliance.
- Enable participants to navigate the complexities of tax laws and regulations in Kenya.
- Help businesses mitigate tax risks and avoid penalties.
Course Outcome
Participants will gain practical knowledge and tools to manage tax compliance effectively, minimize tax liabilities, and enhance their understanding of the legal and regulatory environment in Kenya.
General Notes
GENERAL NOTES
i. The clients have many options on where they would wish to have the training
ii. The client should communicate their preferred training venue at least seven days before the training date failure to which the training shall take place in Nairobi.
iii. This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
iii. Training manuals and additional reference materials are provided to the participants.
iv. Upon successful completion of this course, participants will be issued with a Chania finance consultancy certificate.
v. The onsite training fee covers tuition fees, training materials, tea at 10am, lunch, tea at 4pm, training venue and a certificate on completion. Accommodation and travel may be arranged for our participants upon request.
vi. The online training fee covers tuition fees, training materials, and a certificate on completion.
Available at the following Venues
- Mombasa
- Zoom
Choose the date you would like to take the course
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