|Hiring Organization||Commercial Bank Of Dubai, Main Branch|
|Post Name||Manager, Taxation|
|Qualification||Chartered Accountant or Bachelor/ Master Degree in Accounting, Finance, Tax or related field of study from an accredited college/ University.|
|Employment Type||Full Time|
|Work Hours||8 Hours|
|Salary||AED 6000 To AED 7000 Per Month|
|Location||Dubai, United Arab Emirates 00000|
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features, and services.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people – your colleagues and our customers – and delivering service that really goes the extra mile.
This is a critical role and responsible for leading, formulating, and executing the Group tax strategy and managing the Tax Operating Model involving all direct and indirect (VAT) tax reporting, transfer pricing, economic substance reporting (ESR), country by country reporting (CbCR), Zakat, withholding tax for the Group.
The job holder is essentially the Head of Tax for Commercial Bank of Dubai and hence, the owner of all direct and indirect tax-related policies, procedures, tax accounting, record keeping, return filings and be the first point of contact for all related activities and with the relevant authorities.
Responsibilities include but are not limited to
Tax and VAT Compliance
- Responsible for managing the entire direct and indirect tax reporting including VAT, transfer pricing, ESR, and CbCR reporting processes within the Group (including subsidiaries), and assure effective reporting and compliance with all regulations and legislations.
- Modified business practices and enhanced record-keeping practices.
- Manage preparation and filing of tax and other returns including ESR, CbCR, Zakat returns ensuring complete, accurate, and timely reporting with the necessary authorities.
- Ensuring CBD’s tax reporting is in accordance with the necessary authorities’ regulations/ legislation and providing expert support as required.
Ownership of Tax Policies & Procedures
- Take overall ownership of ensuring that Group policies and practices are tax compliant.
- Contribute to the development & implementation of Tax principles, policies, processes, and Tax accounting to ensure the completion and compilation of Tax mechanisms across the business.
- Involve in drafting and assessing Tax policies and procedures as needed to improve controls.
- Tax Governance Framework
- Production of technical accounting documentation with regards to any rules or regulation changes.
- Ensure reporting period delivery and concerns are well managed and stakeholders are kept appraised of progress with regular status updates.
- Preparing internal memos on technical tax and tax accounting issues and judgments, including advising the CEO, CFO, Audit Committee, and Board of Directors on tax policies, presenting technical tax issues, and advising on developments/changes to tax legislation.
- Partnering with business stakeholders in charting tax accounting for new product launches.
- Provide tax advice and direction to the business units.
Liaison with Internal and External Auditors, Tax Authorities & Regulators
- Planning and completion of Tax audit and liaising with external and internal auditors and tax consultancy providers.
- To act as the first point of contact for all tax-related activities and manage external adviser relationships.
- Respond to the queries related to the tax and liaison with tax authorities and regulators.
- Track all outstanding tax audits and ensure assistance is provided to all material tax audits to eliminate any future audit risk.
Governance and Transformation
- Formulate and execute the Group tax strategy and manage the tax operating model including substantiation and attestation of tax-related balances and general ledger setup.
- Work with businesses to identify tax savings opportunities.
- Prepare a report on the Tax activities with particular reference to the benefits generated.
- Requires practical knowledge in leading and managing the execution of tax-related processes and projects.
- Continuously drive improvements and efficiencies in the tax reporting and controls functions.
- Support the Finance Transformation initiatives
Leadership and People Management
- Liaise with the department, business units, and technology team on an ongoing basis for tax projects and ongoing responsibilities.
- Typically has advanced knowledge and skills within a specific technical or professional discipline with an understanding of the impact of work on other areas of the organization.
- Chartered Accountant or Bachelor/ Master Degree in Accounting, Finance, Tax or related field of study from an accredited college/ University.
- 6+ years experience in tax including VAT functions preferably trained in a Big 4 firm with subsequent in-house experience
- Experience working in an international financial services organization managing direct and indirect tax compliance, policies, procedures, control, reconciliation, substantiation, and attestation practices preferred
- Knowledge of finance, commercial, and accounting concepts, processes, and procedures.
- Good command of English with additional language skills
- Superior report writing and presentation skills
- Strong stakeholder management and influencing skills
- Strong technical knowledge of direct and indirect tax and transfer pricing
- Experienced in leading regulatory and internal audits.
- Highly computer literate.
- Comprehensive knowledge of commercial business drivers.