Manage all direct taxation related activities for the firm including computation of corporate tax, TDS, withholding tax, etc., payment of taxes on timely basis; and preparation of tax returns and tax refund applications
Ensure compliance with all applicable direct tax regulations.
Share relevant and accurate tax consultation with internal functional stakeholders, on a need basis.
Drive and manage / provide assistance with all litigation activities within the Direct Tax space.
Key Job Responsibilities and KPIs -
Key Job Responsibilities: Financial / Technical / Process
Tax Compliance Implementation
Ensure that all direct taxation related computation, payment and return filing is carried in out in compliance with taxation laws and regulations
Ensure that the internal teams provide necessary data to the tax auditor on time. Further, monitor the tax audit process to ensure compliance as per defined timelines.
Review observations of the tax auditor and implement necessary governance controls and checks to ensure stronger compliance levels.
Stay updated regarding the changing regulatory environment and build readiness within the firm for complying with direct taxation changes (i.e. changes in tax rates, international taxation, development in litigation world.)
Ensure that the team collects data required for tax calculation from various business units and corporate level departments
Review and approve computation of direct taxes such as corporate tax, TDS, withholding tax, etc. as per Indian and US tax laws
Review detailed tax planning and projection of tax payable for the assessment year and keeping track of NoL's.
Monitor the sufficiency of reserves maintained by the Treasury team for payment of taxes
Keep abreast of changes in indirect tax regulations and ensure that necessary changes are made in firm’s tax computation process, ERP software, etc. to accommodate new tax laws
Ensure compliance with relevant taxation laws relating to transfer pricing and cross border transaction. Prepare the tax projections for the firm for the next 10 years
Tax Return Filing
Critically review and approve direct tax returns
Coordinate with the taxation consultants for filing of tax returns and payment of taxes if needed
Check tax receipts to ensure timely and accurate payment of direct tax amounts to relevant tax authorities
Review tax payment records periodically to ensure accuracy and completeness of tax related documentation
Coordinate with tax authorities in case any clarifications are required regarding tax returns and tax payments
Ensure timely and accurate tax reporting in the US through the Tax Operation Monitoring (TOM) portal
Tax Refund and Exemption Application
Leverage knowledge of direct taxation laws to identify methods to reduce firm’s tax liability.
Review and approve applications to tax authorities for direct tax refunds and direct tax exemptions as necessary
Review ageing of direct tax balances and coordinate with taxation authorities to resolve old items
Review end to end operations with respect to direct taxes and recommend changes in operations and accounting methods to reduce tax liability
Direct Tax Litigation
Determine situations in which a legal recourse would be required for settlement of direct taxation matters. Seek necessary approvals from superior to initiate proceedings
Track the status of all direct taxation related proceedings that the organization is engaged in
Provide assistance in engagement with legal counsel to plan for litigation strategies for direct taxation cases
SAP to Oracle Transition Management (for Legal Entity Merger / Special Projects)
Review all tax records and data on SAP that needs to transitioned to Oracle in case on a merger of legal entities / any other special projects
Ensure that the necessary functional requirements of data to be transitioned are handed over in a timely and accurate manner to the IT Integration team
Consultation to Internal Stakeholders
Review inquiries received from internal business functional stakeholders and guide the Direct Tax Manager regarding the recommendation to be shared with the business.
Ensure that the team provides accurate, upto date and timely response to internal stakeholders within predefined SLAs
Tax Authority Inquiry Management
Review inquiries received from direct tax authorities relating to information requests, access to records, etc.
Guide the Deputy Manager, Direct Tax regarding nature of response, data, etc. to be shared with the tax authorities
Review the response prepared for accuracy and share with the authorities in a timely manner within predefined SLAs
Tax Non-Compliance Review
Review all cases of direct tax non compliance, identifying reasons, responsible stakeholder, etc.
Analyze financial impact of all tax related non compliances during the period
Implement appropriate corrective actions and liase with the necessary functional stakeholders to ensure that such tax non compliances are not repeated in the future
Tax Litigation Financial Analysis
Review the funds committed and invested in direct tax litigation activities.
Analyze and evaluate expected tax recovery / liability prevention and present recommendation to Head - Taxation regarding whether further funds should be committed to a litigation proceeding
Key Performance Indicators:
Number of notices from direct tax authorities
Turnaround time in response to direct tax related queries (internal and external)
Awareness of developments in direct taxation space
Interest and penalties paid on late filing of direct taxes Direct tax planning and filing of return on time as per timelines
Total number of direct tax planning errors reported in internal audits Effective Direct Tax Rate
Educational Qualification – Chartered Accountant
Technical Competencies -
Management reporting and analysis
Financial risk management
Behavioral Competencies - All ATC Core Competencies
Language: Proficiency in English and Hindi