Kenya's financial system is relatively developed for a country at its income level and also compared with many other Sub-Saharan African countries. The financial system comprises of numerous commercial banks, non-bank financial institutions, a range of insurance companies and a stock exchange. Its financial services sector has also grown tremendously in recent times fueled largely by innovations that have enhanced financial deepening.  While technology-based innovations such as integrating the mobile phone with financial institutions account for the largest segment of growth, other changes such as focus on the unbanked public and taking services to the customer have welcomed many new clients into the financial system for the first time.
Certainly, taxation continues to perplex financial organisations, demanding an ongoing effort to piece together its complexities. Each day brings forth a myriad of tax hurdles for numerous financial organizations. Amidst ongoing tax reforms aimed at modernizing tax laws and boosting revenue to support growing budgets, many organizations are left pondering the implications of the evolving tax environment for their operations.
Hence, it's crucial to pay attention to recent advancements and strategize in advance to forecast and alleviate tax-related uncertainties. As the landscape gradually shifts, financial institutions must prioritize managing tax risks, staying abreast of the constantly evolving tax regulations. A robust and inclusive financial sector stands as a cornerstone for socio-economic progress in any nation, playing a pivotal role in alleviating poverty and enhancing livelihoods through facilitating access to financial aid for the most vulnerable individuals.
The training will focus on the dynamic tax environment, covering tax policy adjustments and administrative reforms that impact the financial sector. It will also address strategies for navigating KRA audits and managing Tax Disputes amid heightened scrutiny by the KRA on financial institutions.
Some of the topical areas to be discussed during the seminar include:

• Analysis of recent Tax policy changes on the taxation of financial services.
• Applicability of excise duty and Value Added Tax (VAT) on certain incomes earned by financial institutions..
• Taxation on digital platforms; Tax technology and transformations i.e. e-Tims, digital services and returns.
• Analysis of recent changes on the taxation of financial services.
• Effectiveness of modernization of tax systems in Kenya and tax compliance for financial institutions.
• Cybersecurity for Financial Institutions