CPA Section 6 – Advanced Public Finance & Taxation (KASNEB)

About Course

This unit is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to address advanced public finance and taxation matters in public and private sector entities

A candidate who passes this paper should be able to:
 Design a tax policy
 Compute tax for complex aspects of companies and specialised entities
 Apply tax laws in mitigating tax costs for various tax payers
 Analyse the taxation issues associated with international transactions
 Apply advanced public financial management principles in practice

Course Content

External Resource Financing
External Resource Financing

Establishment of External Resource Department in the National Treasury
Role played by External Resource Department in raising of external finances
Book keeping and management of donor funds
Regulation of grants administration
Monitoring of public projects through clients connections and EPROMIS
Development partners and contractual agreements

Public Investments
Public Investments

Public Private Partnerships Arrangements
Public Private Partnerships arrangements

Public Debt Management
Public debt management

Establishment of debt management office
Objectives of debt management in public sector
Sources of public debt in Kenya
Debt management strategy paper
Relationship between debt management and budget process
Debt sustainability analysis
Comparative study of debt management strategy in East Africa Community
Management of debts by county governments and other public entities
Role of Cabinet Secretary of the National Treasury in public debt management

Advanced Aspects of the Taxation of Business Income
Advanced aspects of the taxation of business income

Taxation of Extractive Industries
Taxation of extractive industries

Tax Administration and Investigations Investigations and Enforcement Department
Tax administration and investigations Investigations and enforcement department

Tax fraud
Events which may trigger an investigation
Tax investigation
Back duty and in-depth examinations
VAT computation, imported services, VAT withholding agents, restriction on input tax claim submission of VAT documents, VAT documentation refunds, false claims and accountant’s certificate
Compensating tax
Incorrect and fraudulent returns
Customs and excise investigations
Negotiation for settlement
Tax audit
Appellant bodies and appeal procedures
Alternative dispute resolution mechanism
Application of relevant case law

Taxation of Cross Border Activities
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 favoured nation status
Generalised system of preference and AGOA
Withholding tax provisions
Tax havens and treaty shopping
Tax information exchange agreements OECD
Transfer pricing
Application of relevant case law

Tax Planning
Tax planning

Tax Systems and Policies
Tax systems and policies

Professional Practice in Taxation
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 licence
Role of tax agents in appeals procedure
Tax health check,

CPA Section 6 – Advanced Public Finance & Taxation (KASNEB)

About Course

What Will You Learn?

Course Content

External Resource Financing External Resource Financing

Establishment of External Resource Department in the National Treasury

Role played by External Resource Department in raising of external finances

Book keeping and management of donor funds

Regulation of grants administration

Monitoring of public projects through clients connections and EPROMIS

Development partners and contractual agreements

Public Investments Public Investments

Establishment of government investment departments

Mandate of government investment departments

Establishment of State Corporations (State Corporation Act Cap 446)

Role of Public Investments Board; KenInvest

Other players in public investment

Public Private Partnerships Arrangements Public Private Partnerships arrangements

PPP models

PPP parties, (PPP committee, PPP unit, contracting authority, PPP nodes, transactional advisor)

Contract/project agreements, guidelines and standards

Composition and role of PPP petition committee

Establishment and role of PPP project facilitation fund

PPP projects in the country- case study

Public Debt Management Public debt management

Establishment of debt management office

Objectives of debt management in public sector

Sources of public debt in Kenya

Debt management strategy paper

Relationship between debt management and budget process

Debt sustainability analysis

Comparative study of debt management strategy in East Africa Community

Management of debts by county governments and other public entities

Role of Cabinet Secretary of the National Treasury in public debt management

Advanced Aspects of the Taxation of Business Income Advanced aspects of the taxation of business income

Conversion of partnerships into liability companies, and incorporation of incoming

Limited companies, including holding companies, taxation of related parties

Charitable institutions

Leasing entities

Co-operative societies

Trade associations and clubs

Taxation of Extractive Industries Taxation of extractive industries

Banking, insurance, sea and air transport undertakings

Unit trusts

Real estate investment trusts (REITS)

Property developers and contractors

Application of relevant case law

Tax Administration and Investigations Investigations and Enforcement Department Tax administration and investigations Investigations and enforcement department

Tax fraud

Events which may trigger an investigation

Tax investigation

Back duty and in-depth examinations

VAT computation, imported services, VAT withholding agents, restriction on input tax claim submission of VAT documents, VAT documentation refunds, false claims and accountant’s certificate

Compensating tax

Incorrect and fraudulent returns

Customs and excise investigations

Negotiation for settlement

Tax audit

Appellant bodies and appeal procedures

Alternative dispute resolution mechanism

Application of relevant case law

Taxation of Cross Border Activities 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 favoured nation status

Generalised system of preference and AGOA

Withholding tax provisions

Tax havens and treaty shopping

Tax information exchange agreements OECD

Transfer pricing

Application of relevant case law

Tax Planning Tax planning

Tax planning for individuals

Identifying opportunities to alleviate, mitigate or defer the impact of direct or indirect taxation

Evaluating remuneration packages

Tax avoidance and anti-avoidance provisions

Uses of tax incentives

Disposal of business operations and restructuring of activities

SEZA

Tax risks

External Resource Financing
External Resource Financing

Public Investments
Public Investments

Public Private Partnerships Arrangements
Public Private Partnerships arrangements

Public Debt Management
Public debt management

Advanced Aspects of the Taxation of Business Income
Advanced aspects of the taxation of business income

Taxation of Extractive Industries
Taxation of extractive industries

Tax Administration and Investigations Investigations and Enforcement Department
Tax administration and investigations Investigations and enforcement department

Taxation of Cross Border Activities
Taxation of cross border activities

Tax Planning
Tax planning

Tax Systems and Policies
Tax systems and policies

Professional Practice in Taxation
Professional practice in taxation

Emerging Issues and Trends
Emerging issues and trends