Senior Tax Accountant
TAQA Arabia
Total years of experience :15 years, 4 Months
Main Responsibilities:
1. Ensuring compliance with local statutory requirements
2. Effectively conducting tax planning - the purpose of which is to minimize the company’s tax liabilities and maintain its total tax exposure at an optimal level.
3. Researching tax legislation, regulations and rules and advising top management on tax compliance matters.
4. Prepare conclusion of tax provision upon expected taxation risk assessment.
5. Co-working with hired tax advisor to meet legislative taxation requirement and resolving any tax issues with tax authority
6. Assuring that the company’s taxation activities are properly processed on a time, complete, reliable and relevant basis.
7. Orienting and liaising with the company’s sales force, commercial, technical and procurement departments to ensure the optimal tax treatment / considerations in potential forthcoming contracts.
8. Interacting with other departments to obtain important business information that might affect the company’s tax position
9. Working with the general ledger sub-function to assess the implications of taxes on the company’s financial statements.
10. Keeping relevant departments and sub-functions aware of tax law amendments and new legislative developments that might have significant impact on the company.
11. Advising the finance and accounting sub-functions on the effective handling of tax operations.
12. Effectively managing tax records.
13. Facilitating regulatory audits and litigation
14. Negotiating settlements and responding to the tax authority regarding information requests.
15. Defending the company’s position during tax inspections
16. Preparing and reviewing tax returns, refund requests and reports in collaboration with the tax advisor.
17. Ensuring that all required tax documents are properly filled and maintained
Main Responsibilities:
1. Ensuring compliance with local statutory requirements
2. Effectively conducting tax planning - the purpose of which is to minimize the company’s tax liabilities and maintain its total tax exposure at an optimal level.
3. Researching tax legislation, regulations and rules and advising top management on tax compliance matters.
4. Prepare conclusion of tax provision upon expected taxation risk assessment.
5. Co-working with hired tax advisor to meet legislative taxation requirement and resolving any tax issues with tax authority
6. Assuring that the company’s taxation activities are properly processed on a time, complete, reliable and relevant basis.
7. Orienting and liaising with the company’s sales force, commercial, technical and procurement departments to ensure the optimal tax treatment / considerations in potential forthcoming contracts.
8. Interacting with other departments to obtain important business information that might affect the company’s tax position
9. Working with the general ledger sub-function to assess the implications of taxes on the company’s financial statements.
10. Keeping relevant departments and sub-functions aware of tax law amendments and new legislative developments that might have significant impact on the company.
11. Advising the finance and accounting sub-functions on the effective handling of tax operations.
12. Effectively managing tax records.
13. Facilitating regulatory audits and litigation
14. Negotiating settlements and responding to the tax authority regarding information requests.
15. Defending the company’s position during tax inspections
16. Preparing and reviewing tax returns, refund requests and reports in collaboration with the tax advisor.
17. Ensuring that all required tax documents are properly filled and maintained
•Managing the accounts payable department.
•Responsible for the efficient management of the purchase ledger function and the payment of all company invoices in a timely fashion.
•Ensure the smooth running of the Accounts Payable department.
•Performing the month end closing process and reconciliation of the ledgers.
•Maintain excellent working relationship with suppliers and conduct the monthly validation with them.
•Ensure the Accounts Payable team are replying to all queries in a timely manner and all queries are dealt with correctly and efficiently.
•Ensure the procedures conformable with the efficient internal control system and accepted accounting principles.
•Provide day to day management of the Purchase Ledger team - motivating and leading the team to lead the way in developing processes and efficiencies.
•Reviewing ( Purchases, suppliers, notes payable, accrued expenses, interest payable, payroll payable, Taxes payable, compensated absence and all probable or contingent liability) ledgers monthly.
•Prepare the cost statement of imported raw materials and load each item of its costs and expenses.
•Regular reporting and analysis to key senior managers in the business.
• Prepare bills and invoices for sales. These payment requests list information such as a description of the product, the date of the transaction, the price, shipping charges, and discounts applied.
• Collect on accounts by coordinating with the collections department for severely delinquent accounts.
• Record payments included the date paid, amount, method of payment and any balance due by entering them into a customer ledger.
• Prepare cash and check payments for bank deposit. This usually requires totaling and recording the deposit amounts, filling out deposit slips, and bundling the funds and slips
• Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted. Research any discrepancies by checking bills, invoices, sales receipts and bank deposit records.
• Review contracts and agreements of customers and ensure its compliance with the marketing & sales policy.
• Prepare the debts aging analysis report and determine the bad debts and the allowance of bad debts.
• Prepare monthly Sales Commissions and distribute it for each sales representative.
• Generate monthly, quarterly or annual financial statements and reports detailing paid and unpaid invoices and other accounts receivable activity. Reports typically list active accounts, the status of the accounts and collection costs.