KSh 500.00
Description
Advanced Taxation
Advanced Taxation is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to solve complex tax issues, implement tax planning initiatives and administer tax in various business environments.
LEARNING OUTCOMES
A candidate who passes this paper should be able to:
- Compute the tax liability of enterprises, entities and specialised business
- Handle all value added tax matters
- Apply the procedure for conducting a tax investigation
- Explain the tax dispute resolution mechanism
- Explain the tax implications for cross border business
- Develop tax policies
CONTENT
- Taxation of business income and specialized business activities
- Partnership business
- Admission of a new partner and retiring partners during the year
- Conversion of partnerships into liability companies
- Incomplete records pertaining to partnership businesses
- Case law on taxation of partnership businesses
- Partnership business
2. Limited companies
- Taxation of companies, including holding company, subsidiaries, branches and related parties
- Incomplete records pertaining to limited companies
- Minimum tax
- Shortfall tax computation
- Taxation of dividends
- Case law on taxation of limited companies
- Rental income, including residential rent income, Commercial rent income and Real estate investment trusts (REITS)
- Charitable institutions
- Leasing entities, including hire purchase lease agreements
- Co-operative societies, Saccos
- Trade associations, amateur sporting association and clubs
- Trust bodies, settlements and estates under administration
- Financial institutions: Banks, insurance companies
- Sea and air transport undertakings
- Collective investment schemes
- Professional, training, management, agency, and consultancy fees
- Property developers and contractors
- Taxation of extractive industries
- Capital gain tax
- Digital service tax
- Application of relevant case law
3. Value added tax administration
- Obligations of a taxable person and offences relating to VAT
- Value added tax computation
- Restriction of input tax claimable
- Imported services and VAT withholding agents
- VAT refunds and bad debt relief computation
- VAT Accountant certificate
- Value added tax automated assessments
- I tax significance and application in value added tax administration
- Application of relevant case law
4. Tax investigations
- Tax fraud
- Civil and criminal tax investigation
- Events which may trigger an investigation
- Back duty and in-depth examination
- Customs and excise investigations
- Negotiation for settlement: Tax amnesty, Tax Penalties and Enforcement for outstanding taxes
- Types of tax audit and their significance
- Application of relevant case law
5. Tax dispute resolution mechanism
- Tax disputes
- Stages of tax dispute resolution process
- Tax dispute resolution process cycle
- Legal framework and objectives of Alternative Dispute Resolution
- Types of tax disputes eligible for Alternative Dispute Resolution
- Benefits of Alternative Dispute Resolution
- Parties to Alternative Dispute Resolution and their roles
- Issues exempted from Alternative Dispute Resolution
- Alternative Dispute Resolution agreement terms and timelines
- Termination of alternative dispute resolution
6. Taxation of cross border activities
- Distinction between trading in and trading with a country
- Double taxation agreements; theory, design and application
- Regional perspective with reference to the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA)
- Most favored nation status
- Nature, characteristics and significance of One Stop Border Posts (OSBPs)
- Generalized system of preference and AGOA
- Tax havens and treaty shopping
- Tax information exchange agreements (TIEAS)
- Transfer pricing: oecd guidelines
- Application of relevant case law
7. Tax planning
- Tax planning for individuals: By way of Tax exempt activities, transactions that are allowable expenses and transactions attracting tax setoffs
- Tax planning for body corporates
- Identifying opportunities to alleviate, mitigate or defer the impact of direct or
- indirect taxation
- Evaluating remuneration packages
- Tax avoidance and anti-tax avoidance provisions in the tax Act, short-fall distributions of dividends
- Sectoral tax incentives
- Disposal of business operations and restructuring of activities
- Tax risk management
8. Tax systems and policies
- Types of tax systems
- Role of taxation in economic development; tax base expansion, efficiency in tax systems
- Design of a tax policy
- Criteria for evaluation of a tax system
- Tax reforms and modernisation of tax systems under various Acts
- KRA structure – Large Tax Payer and Medium Tax Payer organisations
9. Professional practice in taxation
- Forms of tax practice and matters relating thereto
- Matters relating to new clients
- Handling of client work
- Disclosures in tax returns, computations and correspondence with the Revenue Authority
- Moral and ethical issues in taxation
- Tax agents, appointment, obligations, professional liability
- Cancellation of tax agents license
- Role of tax agents in appeals procedure
- Tax health check