PwC Kenya

Yesterday, our Head of Tax & Legal Services, Job Kabochi, brought together PwC Indirect Tax Leaders from across Africa for an insightful workshop, focusing on trends in the digital economy and other market trends on the continent. The team spent time reflecting on how best to leverage technology in solving important problems in our society. "When I started out my career in tax, I was told, VAT is simple; output tax less input tax = tax payable. This was before VAT on Electronically Supplied Services (ESS). Lucky for me, I am navigating the fast-paced digital economy in the company of the best Indirect Tax practitioners in the continent!!" - Job Kabochi Read our 2024 VAT in Africa: Digital Services Report for more insights: https://ow.ly/ufPl50TmLIZ #PwCAfrica #PwCIndirectTax #PwCInsights

The objective of IFRS 19 is to provide reduced disclosure requirements for subsidiaries, with a parent that applies the Accounting Standards in its consolidated financial statements. IFRS 19 is a voluntary Accounting Standard that eligible subsidiaries can apply when preparing their own consolidated, separate, or individual financial statements. Developed in response to stakeholder feedback, Alphaxad Gitau, a Senior Associate, highlights that it aims to provide operational relief and cost savings for groups using IFRS at both consolidated and subsidiary levels by allowing one set of accounting records. For further details see: https://ow.ly/PFqN50TlNMM #PwCInsights #PwCAssurance

Happening now! Join the ESG webinar co-hosted by PwC Kenya and Risk Insights, where we're exploring how to navigate sustainability reporting to future-proof your business. Don't miss out! Join here https://ow.ly/4Zrz50Tl3PH #StrategicESGreporting #PwC_RiskInsightsESGwebinar

According to Hedge accounting under IFRS & IAS 39 Financial Instruments, the objective of hedge accounting is to represent the effect of an entity’s risk management activities using financial instruments to manage exposures arising from certain risks that could affect profit or loss. Hedge accounting fixes costs and locks in margins on activities, enabling the entity to reasonably forecast costs/revenues. Ann Okoth, a Senior Associate, highlights that Hedge accounting can help manage risks including interest rate risk, price risk, foreign exchange risk, thus mitigating volatility in the statement of financial performance. #PwCInsights #PwCAssurance

On 19 February 2024, the Organization for Economic Co-operation and Development (“OECD”) released the final report seeking to introduce a simplified remuneration approach for eligible related companies that undertake basic marketing and distribution activities. The approach aims to assist jurisdictions that often lack sufficient local market information to enable them reduce compliance costs and increase tax certainty for taxpayers and tax administrations. Countries that choose to apply the approach have the option to make it binding on all taxpayers through local legislation or make it a taxpayer-elected safe harbor. Read more insights here: https://ow.ly/BCgE50Tkjav #TaxTuesdays #PwCInsights

Financial statements provide investors with valuable information about a company’s financial position and performance. Understanding these financial statements is important because it helps investors make informed investment decisions, assess a company’s risk level, and determine its overall financial stability. Knowing how to read financial statements, including balance sheets, income statements, and cash flow statements, is key to making informed decisions about investing in a company. Additionally, the disclosures within these statements provide important details about the company’s operations, liabilities, and financial position. As a result, Samuel Manko emphasises, it is crucial for investors to be able to read and understand financial statements to make informed investment decisions that align with their financial goals. #PwCInsights #PwCAssurance

The Tax Appeals Tribunal has reaffirmed its stance on the application of withholding tax on management or professional fees, under the Kenya–France and Kenya–South Africa Double Tax Treaties. Read the alert here: https://ow.ly/aqv250Tkj5U #PwCInsights

Date Change Alert! Elevate your ESG strategy with expert insights! The webinar has been rescheduled to Thursday, 12th September 2024. Join us as leaders from PwC, Risk Insights, and the World Economic Forum discuss how ESG reporting can drive business transformation, regulatory compliance, and long-term success. Click here to register: https://ow.ly/OPmv50TjIjq #StrategicESGreporting

PwC’s Africa NextGen Survey 2024 has launched. The report explores the pivotal role of family businesses in Africa and the transformative power of GenAI. Download the full report to discover perspectives from Africa NextGen leaders on the potential of GenAI to drive growth and resilience.https://ow.ly/FKk650TiRV2 #PwCNextGen #FamilyBusiness #PwCPrivate

Together, we are building a stronger, more inclusive Kenya, where every citizen’s voice is heard, and progress is felt on the ground. Let’s celebrate the power of devolution for a brighter future. #KenyaDevolutionProgramme #DevolutionInAction #KenyaRising #LocalGovernance