ACCOUNTABILITY ON TAX EFFICIENCIES AND COMPLIANCE
1 Compliance-Prepare and submit all statutorily required tax returns when due.
• Assist with preparation and lodgement of tax returns and lodgement obligations.
• Update and maintain proper tax compliance registers.
• Tax planning and advisory role to management to limit the exposure to tax whilst maintaining tax asset base in the balance sheet
• Assist with the preparation and submission of the income tax provisions and effective tax rate matters
• Assist with tax payment calculations, payments, and projections
• Assist with correspondence received from the tax authorities
• Assist with reconciling all tax-related GLs, review monthly and any reconciling items cleared within 30 days.
• Assist to calculate the appropriate balance for tax expense, deferred income tax liability or deferred tax asset, and current tax payable for the end-of-period financial statements
• Demonstrate an understanding of temporary differences, both taxable and deductible, and account for their effects on future taxable income
• Determining the proper tax rate to be used in the calculation of deferred tax amounts
TAX RISK MANAGEMENT
• Raise awareness of tax issues and effectively communicate tax issues to management.
• Compliance with providing advice on day to day tax matters, looking at consistency across the EAR.
• Update and advise business on Tax Payment exposure on an ongoing basis.
• Provide asset management with guidelines in respect of tax treatment of assets.
• Initiate, plan and drive ad hoc tax projects thus ensuring successful completion of all projects which ensure tax compliance.
• Reviewing of contracts to identify possible tax risks and advising on correct tax treatment especially in foreign countries (especially with correct application of VAT, WHT and DTA application)
• Ensure ruling requests relating to issues that affect the organisation are in place, documented and up to date
ACCURACY OF TAX RECORDS AND INFORMATION INFORMATION
3 Governance – Recommendation and implementation maintenance of good corporate governance
• Undertaking the tax “health checks” of the Group’s EAR.
• Assist with audits carried out by Tax Authorities.
• Following up on any review queries and ensure timely resolution of queries
• Compliance with managing of external professional service providers on tax matters, including health checks.
• Maintain and enhance the existing relationship with tax authority personnel.
• Train operational staff in the EAR on taxes when needed.
• Develop and manage relationships with key personnel within EAR
• Review and update the tax systems, procedures and policies.
VALUE ADD SYNERGIES
4 AD HOC PROJECTS
• Identify and advise any opportunities for improved cost management into available tax allowances
• Assists in any assigned Tax related projects for Group.
• Oversee, co-ordinate and advise management on specific tax projects for EAR new and existing business and ensure that all tax processes result in tax efficiencies and compliance.
• Relationship Building & Networking (Lobbying for Tax Act changes)
• Representing Liquid’s Tax Team at Telecommunication Tax forums in the EAR
ACCURACY IN TAX REPORTING
5. Accurate reporting and disclosure of tax information in Annual Financial Statements by;
• Ensuring the maintenance of accurate general ledger reports for clean audit
• Ensuring compliance to accounting standards (IFRS/ IAS12) to avoid audit queries for non-compliance
• Ensuring there are no significant audit adjustments for errors
• Ensuring timely completion of Tax schedules and notes for the AFS preparation
• Ensuring accuracy of Tax notes required for AFS for the Senior Manager to review and sign off
• Understanding and advising on how the adoption of IFRS affects cash paid for taxes
Decides on applicable tax treatment of transactions
• Accountable for determining the proper accounting for tax-loss carrybacks and carryforwards
• Accountable for classifying deferred tax assets and deferred tax liabilities on the statement of financial position
• Accountable for ensuring that the EAR is compliant with all tax legislation and requirements by Revenue Authorities in the relevant jurisdictions
• Accountable for advice on optimal tax planning.
• Accountable for quarterly deferred tax assessment.
Formal Qualifications Required
• Bachelor’s degree (master’s preferred) in finance or Accounting(essential)
• CPS/ CPA will be an added advantage(essential)
• 5 Years’ experience in a tax accounting position within a fast-paced and dynamic environment
• Proven and successful experience working at all levels of tax problem analysis, tax preparation and resolution
• Demonstrate experience working on corporate-level-tax analysis and multi-state taxation. He/she will portray vast knowledge of state tax laws, rules and regulations as well as the local tax and regulations
• Membership of a Professional Tax or Accounting Body(essential)
1.3 Knowledge Areas
Job-Related Knowledge Required
• A strong working knowledge of tax compliance matters
• Tax Act and application in financial reporting and statutory reporting
• Specialised knowledge of Income Tax Acts/ Tax Administration Act, DWT act, Double Tax Agreements, VAT Act
• Understand the need for international tax planning
• And the ability to analyze a whole host of information and extract the pertinent facts and make a sound tax analysis thereof
• Ability to prepare and file all aspects of a tax compliance process
• Experience and ability to originate, design and use a tax risk framework
• Understand & apply tax law, identify opportunities and management of the implementation of such
• Have a well-developed analytical, planning and problem-solving skills
• Implement efficient work practices
• Familiar with Microsoft Office, excel, word, and SAP software.
Job-Related Skills Required
• Effective communication and report writing skills
• Engagement skills with management at all levels
• Proactive and organized, able to prioritize
• Ability to manage multiple tasks concurrently and work to deadlines
• Pay attention to the broader communication business
• Ability to work effectively as part of a multi-disciplinary team
• Balance data and information with timely decisions
• Ability to work independently and manage own projects
• Understands how strategies and tactics work in the marketplace
• Set high personal performance standards
All applications should be submitted to firstname.lastname@example.org on or before 2nd September 2020.