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Job Description
Efficiently and effectively running the tax department that protects the shareholder’s fund, proactively predicts and takes actions to mitigate tax exposures and strategically positioned to deal with all forms of tax issues with the FIRS, LIRS, and other relevant tax authorities. Also responsible for fixed asset management (15 – 20%).
Responsibilities
- Ensure efficient and effective tax compliance by taking advantage of necessary tax benefits available in the tax laws
- Ensure the company is not exposed to any form of tax liability (CIT, EDT, DT, VAT, WHT, etc.) and provide periodic company tax exposure tracker
- Be abreast of new tax legislation and advise on its implication to the business
- Responsible for monthly VAT and WHT calculation, validation, and remittance.
- Responsible for FIRS, States IRS, and Transfer Pricing audits and coordinated with tax advisors on audit observations and open years for early resolutions.
- Conduct quarterly transactional internal audits, provide impact assessment, and advise on mitigating steps
- Timely submission of annual tax returns for the company and obtaining annual tax clearance certificate for the company.
- Responsible for accurate PAYE computation, reconciliation, and remittances and returns (monthly and annual) across all relevant tax authorities and receiving original receipts for all remittances.
- Process Tax Clearance Certificate for company and staff including annual acceptance certificates for asset additions.
- Responsible for tax planning and training of the finance team on tax awareness matters.
- Responsible for monthly capturing of fixed assets additions, depreciation, and disposal. Ensure additions and disposals are adequately approved.
- Maintain accurate asset register with balances reconciled to the General ledger monthly. Also, ensure periodic physical verification of assets and proper tagging.
- Regularly review Capital Work in progress, adding spend that qualifies and capitalizing those fully completed and put to use.
- Responsible for notification of the Ministry of Trade for planned asset additions.
KEY ACTIVITIES / PERFORMANCE AREAS & MEASURES
Tax Compliance
- Prompt remittance of CIT, WHT and VAT
- Prompt remittance of PAYE to LIRS and other State of Internal Revenue services
- Annual remittance of CIT and PAYE
Monthly Provisions
- Accurate monthly provision of CIT and Education tax
- ·Accurate monthly provision of Deferred Tax
Audit and Tax Queries
- Prompt response to all tax queries
- Prompt response to audit observations
- Effective follow-up of audit observation and early closure
- Provision of monthly tax flash
Reporting
- VAT validation
- WHT reconciliation
- CIT and Transfer pricing filing
- PAYE filing for all states of internal revenue services across the country
Annual Filing
- TCC filing.
Fixed Assets
- Accurate asset records – subsidiary and general ledger
- Existence and Completeness of assets through physical verification.
Qualification
- BSc/HND in Accounting, Finance, Banking, Banking and Finance Economics or any related discipline. Relevant professional qualifications will be an added advantage
- ACA, MSC, MBA, CITN
- Minimum of 5 years of working experience in a structured organization with a very good tax background
KNOWLEDGE & SKILLS
- Tax Management
- Fixed asset accounting
- Applicable tax laws
- Necessary tax documentation and guidelines
- Tax notices and interpretation
- FIRS guidelines
- Accounting principles
- Accounting systems and practices
- Internal working of LIRS and other state of internal revenue services
- Financial Analysis and modelling
- Remitting withholding tax, PAYE, and company income tax (advice on bad debts), monthly.
- Take advantage of tax allowance – pioneer status, new businesses
- Deduct tax on interest payments.
- Correct deduction on supplier invoice.
- Tax clearance can be obtained without paying withholding tax. But it’s a tax audit you will be held.
PERSONAL ATTRIBUTES
- Good communication skills
- Excellent negotiation skills
- Interpersonal skills
- Problem-solving
- Analytical Mind
- People Management
- Planning and Control
- Supervision and coaching
- Attention to details
- Integrity
- Innovative
Location: Lagos State, Nigeria.
Apply: TAX AND FIXED ASSESTS MANAGER
