Zakat & Tax Assistant Manager

Job Purpose

Responsible for Maintaining Zakat and Tax reporting ,ensuring compliance at the Panda Group acting as a reference point for both the team and ensuring that agreed compliance measures are operating effectively across the Group, Overall accountability for managing Zakat, Tax and VAT risk within the organization and ensuring risks are being managed and / or mitigated as per the Panda risk strategy Mitigates all compliance risks by ensuring all actions are followed up in a timely manner and closed with approval from relevant stakeholders

Functional Accountabilities

1. Managing Tax Audit by GAZT
2. Monthly, quarterly, and yearly closure activities

Maintain Zakat and Tax Reporting:

1. Monitor closely the Zakat and tax accruals accounts on monthly basis to book the correct provision on time
2. work closely with the consultant to reduce the zakat provision in order to reduce the zakat base
3. Reviewing the monthly Withholding Tax and VAT
4. Reviewing the analysis of all non-resident suppliers for services only to check which service is costing the most WHT expenses
5. maintain the same efficiency to file the returns ahead of time and avoid any delay fines
6. stay current with the changing in tax, zakat and VAT laws by checking the GAZT website regularly and attending seminars

Managing Tax Audit by GAZT:

1. To carter the GAZT audit on either zakat, withholding tax and VAT on timely manner
2. Responsible to answer all the queries from authority in timely manners
3. Conducts audits of stock wastage activities at store to ensure that adequate paperwork is being retained for the GAZT prescribed period

Monthly, Quarterly and Yearly Closure activities:

1. Maintain the issue log on any issue regarding with Zakat, tax and VAT
2. Review monthly, quarterly and yearly draft submission draft return before submitting to GAZT.
3. Analyses reports from sales and exports to ensure that a complete audit trail exists for all transactions and that VAT is being correctly accounted for
4. Works with stakeholders to promote best practice and agreed processes within the IT, Accounts Receivable, Accounts Payable teams for both Trade and Non-Trade Sales and Purchases
5. Establishes regular reporting mechanisms with Finance stakeholders to ensure that corrective action is being taken at the earliest opportunity
6. Ensures that Zakat and Tax legislation changes are being analyzed for impacts on order to cash and record to report transactions
7. Establishes regular reporting mechanisms with Finance stakeholders to ensure that corrective action is being taken at the earliest opportunity
8. Maintains register of non-compliant suppliers and customers to follow up on outstanding action points to completion

Checks import documentation to ensure that calculations are correct and ensures payment to import brokers are affected on time

Experience, Skills & Competencies

• Minimum 5 years of experience in Financial activities (Direct and indirect tax experience is a must)
• Experience working in Big 4’s firm is preferable
• Industry expert in relation to Tax is added value
• Financial and analytical skills
• English & preferably Arabic proficiency
• Microsoft Office & Oracle
• Visio, Project, and Power point, etc.,