We are pleased to invite you to participate in our taxation of banking and financial services tax risk training tailored for the banking and financial services industry.
This training is tailored to corporate teams and is most beneficial to professionals in credit risk, legal, taxation and finance roles in the banking and financial services industry but generally to all individuals with a keen interest in understanding legal and tax risk in transactions.
It’s aimed to enhance participants’ knowledge and understanding of the legal and taxation peculiarities of banking and financial services and the transaction risk mitigation strategies applicable.
This is also an opportunity to self check and alter or tweak tax positions that might hurt institutions in the midterm as a result of compliance premised on incorrect tax positions.
Participants will get to appreciate the taxation peculiarities and complexities applicable to the banker-customer relationship and the legal and tax risk that arises as a result of this special relationship.
The training discusses at length the pitfalls and tax risk apparent in the various transactions including international money transfers, mortgages and securities, finance leases among others and how it arises as well as transaction best practices to mitigate this risk.
The training tackles key tax law areas applicable to banking and financial services and offer a highlight of all recent case law developments to note going forward. The training will also offer insightful guidance on the accounting and tax treatment of receipts and payments in financial services and products including; Security realisations, Bad debts, recouped earnings, interest, remittances among others.
Other key areas to tackle include;
- Taxation peculiarities applicable to the banker-customer relationship and arising tax risk.
- The accounting and tax treatment of receipts and payments in financial services; Security realisations, Bad debts, recoupment, interest, remittances.
- Withholding taxes, rules and peculiar application to the different banking transactions and products.
- International taxation; Nostro Accounts, Syndicated loans; Source and withholding rules applicable.
- Interest payable on fixed deposits: Tax treatment and compliance obligations under income tax.
- Finance leases: Tax treatment and compliance obligations under Income Tax and VAT.
- Interest Deductions: Accrual, Capping and Deferral rules and their application to the banking industry.
- Forex gains and losses tax treatment.
- VAT best practices for banking transactions.
- Tax exemptions in financial services.
- KYC transaction due diligence and mitigation of borrower tax non-compliance risk.
- Pitfalls and transaction best practices.
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