Job Description

KEY PURPOSE

Manage the Direct and Indirect tax of the Life Insurance company comprising of matters like TDS, Goods and Services Tax (GST), Assessments of Income tax, Service tax Audit as well as filing of various taxation returns including Annual Return of Income. Oversee and implement the taxation requirement in the Insurance products, documentation and system development of the same.

KEY RESPONSIBILITIES

• As part of Finance team, working closely with the Accounts Payable, Business areas for:

• Ensuring proper deduction of TDS on payments made to the vendors including Non residents.
  • Ensuring proper GST is levied, collected and accounted.
  • Ensuring tax compliance in terms of documentation, process, procedure and returns.
• Ensuring timely payment of all tax payments like TDS, GST, TDS etc.
• Assist in the audit to the extent of taxation responsibility.
• Preparation and finalization of Tax Audit report, Transfer pricing report, Annual Income tax return and GST returns.
• Support in preparation for tax hearings and appeals.

• Design, develop and maintain standard operating processes                               in co-ordination with the related departments. This will include:
  • Recognising risks in tax compliance and putting into place controls and procedures to minimise these risks and ensure visibility.
  • Understanding accounting and financial management information requirements, and assisting in the specification and delivery of financial processes.
  • Liaising with the tax consultants, taxation authorities, intra and inter departments to define and agree operational procedures, to define reporting, frequency and format to satisfy audit and control, regulatory, statutory and management reporting as required by the business.
  • Implementation of systems required for the taxation purpose.
  • Advising on taxation benefits available on Life Insurance Products of the Company.
  • Analysis and implementation of changes in GST, Budget changes in Direct tax on the functioning of the company.

Key Critical Competencies

• Strong interpersonal and communication skills
• Strong numerical and analytical skills.
• Hands on approach
• Team player with proven ability to take ownership and deliver to tight deadlines.
• Ability to learn quickly and take initiative
• Ability to work at a detailed level with accuracy but also understand the bigger picture.
• Possesses an understanding of the financial implication of and control requirements surrounding business processes.

Profile

Candidate would be ideally from Life or General Insurance Company, looking after taxation matters. Minimum 5 years of experience in tax function within an Insurance company would be preferred.  Candidate expected to have a sound knowledge of Indian Income Tax including Taxation of Life Insurance Companies, TDS and GST.