Assistant Manager - Tax and Zakat
Ernst & Young
Total years of experience :12 years, 0 Months
As a Senior Tax and Zakat Consultant, I am leading the following tasks:
Calculating tax and zakat liability, ensuring compliance is completed speedily and efficiently, and submitting tax and zakat returns and associated documents within appropriate deadlines;
Advising and consulting with clients in order to provide advice about tax and zakat legislation;
Recognizes, anticipates and resolves tax issues; make recommendations;
Prepare monthly and annual tax/zakat and VAT returns;
Assist clients in objections and appeal matters during tax and zakat controversies;
Assist clients for tax review and/or due diligence project;
Conduct deep tax research and/or analysis;
Prepare the computation of provision for taxation review the tax working papers;
Prepare withholding tax returns;
Prepare advance tax payment return;
Prepare annual income and zakat return review of cash tax positions; and
Assist client in transfer pricing matters.
As a Chief Accountant, I have led the following tasks:
1) Strategic Finance and Risk Management
Worked as process owner by implementing different SOPs (Standard Operation Procedures) and controls;
Performed financial analysis and reporting to management as needed;
Generated financial reports and statements to managers for review; and
Evaluated computerized accounting systems and provide recommendations to IT team for performance improvements.
2) Financial Reporting Responsibilities
Performed cash flow forecasting, budgeting and worked closely with the operations and project teams in analyzing margins, variances and cost analysis;
Period-end closing & reporting in SAP (Monthly, Quarterly & Annual);
Coordinated with finance team to complete assigned accounting tasks within deadlines; and
Assist in auditing activities by providing necessary information and preparing requested documentations.
3) Controlling Responsibilities
Monitor and record financial transactions according to company policies and regulations;
Conducted all necessary trainings to keep the team’s skills and knowledge up to date;
Managing the day to day activities of the finance team;
Analyzed financial discrepancies and recommended effective resolutions; and
Prepared cash flow/ revenue forecast after getting the data from the operations.
4) Accounting Responsibilities
Ensured properly & timely posting of suppliers and customer invoices in SAP, managing suppliers & subcontractors’ payments in compliance with relevant contract;
Ensured sub-contractor’s invoices are properly validated with correct progress percentages and booked accordingly in ERP system;
Ensured timely raising of intercompany invoices and timely reconciliations as group reporting requirements;
Timely payment posting and monthly bank reconciliation;
Responded to accounting inquiries from management in a timely fashion;
Provided guidance to other accountants when needed;
Monitored and recorded financial transactions according to company policies and regulations;
Monthly posting of staff salary, depreciation, prepaid rents and prepaid insurance;
Monthly posting of provisions for employee leaves and end of service benefits;
Coordinated with Asst. Treasury Manager for the funds requirements to maintain cash flows as per company’s requirement; and
Checked and verified cash & bank vouchers before payments to ensure the compliance with 262 Controls.
5) Tax related Responsibilities
Prepared summary of payments for monthly withholding tax return, VAT returns and coordinate with tax consultant to file the return with the ZATCA to comply the timelines;
Coordinated with tax consultant to file the annual tax return and provided all the supporting documents;
Arranged payment of advance taxes, where applicable and make sure the settlement of all tax liabilities in a timely manner;
Prepared details and coordinate with tax consultant to translate accounting record in Arabic as per local laws requirement; and
Actively involved in the implementation phase of VAT Law in kingdom. i.e. system upgradation, coordinating with vendors, client and the ZATCA team.
As a part of Finance & Accounts Department, I have led the following tasks:
Reviewed all invoices for appropriate documentation, withholding taxes and approval prior to booking;
Reviewed the aging analysis for the accounts payable and submitting to the management for the payment plans;
Reviewed the payments made to suppliers and ensuring that payments are made as per approved payment plans;
Reconciled vendor statements researched and corrected discrepancies;
Worked directly with operations and other finance colleagues and interacts with all levels of management;
Ensured compliance of accounting activities with international and local accounting standards;
Responded to all vendor inquiries;
Assisted in monthly closing;
Maintained files and documentation thoroughly and accurately, in accordance with company policy and accepted accounting practices;
Performed any other duties on ad-hoc basis as required;
Maintained account payables, bankbooks and reconciliations in SAP; and
Coordinated with internal & external auditors.
During one year of experience with audit firm I was involved in various assignments in Audit & Assurance department and Tax department. I have worked for various sectors ranged from manufacturing industry to the service providers. I mainly involved in full scope audits, preparation and filling of income tax returns. Apart of my role of auditor and asst. tax consultant I have led the following tasks:
Initial planning of the job and identifying risk areas during the process;
Assessment of control risk and designing the tests of controls and substantive procedures for specific areas in consultation with the engagement manager;
Performed the test of control and substantive procedures highlighting the issues/ matters.;
Verified financial statements captions as per the International Financial Reporting Standards (IFRS);
Discussions with the clients regarding the various accounting or other issues/ matters identified during the audit;
Calculated income tax as per the law, filling of Income tax return and submitting the income tax return to the FBR (Federal Board of Revenue);
Prepared and submitted withholding tax returns;
Reviewed the work done by the team members and coordinating with engagement manager;
Prepared financial statements; and
Verified legal compliance, internal controls and suggested improvement points to the management.
Association of certified charted accountant
Advance diploma in accounting and finance
Bachelor of business administration