Ernst and Young Tax Guide Essay Example | Topics and Well Written Essays - 2500 words

Ernst and Young Tax Guide - Essay Example It was also expected that the new institutions provided a better environment for integrity in revenue administration. Tax reform can therefore be seen as an attempt to achieve the larger goals of an accountable and transparent government through improved revenue collection and tax policies. Mr. Waweru said that the adoption of the revenue agency model has generally been successful in improving tax administration. Under the general direction of the East African Revenue Authorities Commissioners General Forum and the East African Revenue Authorities Technical Committee, the revenue authorities have managed to keep the regional tax administration reform agenda on track. The reforms focused on building integrated institutions for better synergies between the legacy revenue departments, rationalizing and lowering tax rates, introduction of VAT as a replacement of Sales Tax, automation of functions, meeting targets by enhancing revenue mainly from existing taxpayers, and adoption of a corporate planning approach to revenue administration. ACCA is the largest and fastest growing international accountancy body with over 345,000 students and members in 160 countries. ACCA has been active in East Africa for many years, and has offices in Nairobi, Kampala and Addis Ababa, and active student branches in Dar es Salaam, Kigali and Khartoum. The first ever ACCA East African Accountants Convention brought together members and other accountants from the Eastern, Central and Horn of Africa region. (Cheryl D. Block, Pub. Date: October2004) "The Convention is also part of ACCA East Africa's overall strategy to provide appropriate platforms for ACCA members to share professional knowledge and best practice, as well as to engage business, political and civil society leaders, as part of the wider community in which they live and work," says John Nyakahuma, the Head of Corporate Development, and ACCA East Africa. Mr. Chas Roy-Chowdhury, the Secretary of the ACCA Taxation Committee at the organization's London Headquarters spoke on the European perspective on tax reform, while Mr. Francis Kamulegeya, Tax Partner in the Kenya branch of international accounting firm PriceWaterhouseCoopers (PWC), spoke on Tax Reform: Issues and Challenges in East Africa. Mr. Kamulegeya works primarily with PWC Kenya's multinational and regional clients in the manufacturing and services sector, some of whom are the largest taxpayers in East Africa. In addition to his current role as the leader of the PWC indirect tax services group in East Africa, he helps clients in the areas of tax planning and compliance, and in particular advising companies wishing to invest in East Africa on aspects such as corporate structuring and financing in order to take advantage of the available investment incentives in the region. Lord Marshall concluded that a number of options should be considered. He stated that it was unclear