Senior Tax Specialist

JOB DESCRIPTION

Job purpose
The Tax Specialist is responsible for managing tax reporting, compliance with laws and regulations, ensure tax returns are completed and accurate, and filing within timeframe to legally minimize tax obligations.
Innovative tax management, planning and research are key to this role. The position will supervise all tax audits and manage relationship tax authorities and consultants.
Key Roles and Responsibilities

1. Prepare and review tax calculations and estimates such as monthly WHT, VAT, and PAYE, current and deferred tax; secure approval for payment.
2. Review and reconcile general ledger entries for tax implications; provide corrective and improvement measures accordingly.
3. Ensure compliance, timely filing and remittance of all taxes and levies (such as Expatriate PAYE, VAT, WHT, CIT, ET, business premises levy, development levy, etc.) within government time frame.
4. Ensure timely collection of all tax remittance receipts, documents and certificates, such TCC, credit notes, revenue receipt, etc. for all entities.
5. Manage relationship with tax authorities and consultants and supervise all tax audits. Provide comprehensive report on every tax audit exercise and give regular status update on tax cases, remittances, levies, fees, payments to agents and consultants.
6. Provide innovative tax management, planning, and tax-savings strategies, backed with statistical data and/or analysis.
7. Be abreast with all tax regulations and new promulgations / enactments and advise finance management accordingly.
8. Play advisory role and support all the BUs on tax matters as may be required.
9. Identify and implement processes improvements in the company’s tax affairs; establish work flow procedures and policies and develop Standard Operating Procedure (SOP) for all processes within the job role.
10. Perform any other role(s) that may be assigned from time to time.
11. Tax planning for whole group

Key Performance Indicators (KPI)

1. Review all tax related expense GLs viz-a-viz related vouchers for tax implications and report noted exceptions bimonthly, 10th of the month for prior months entries and 2nd day of the succeeding month for later entries.
2. Reconcile all tax payable ledgers (VAT, WHT, etc) and raise adjustment journal voucher where necessary by 3rd day of the succeeding month.
3. Implementation of tax planning /savings strategies – savings target of ≥N20m.

1. Compute expatriates PAYE remittance and request payment approval not later than 4th day of the succeeding month.
2. Compute VAT and WHT remittance and request payment approval not later than 10th day of the succeeding month.
3. Ensure business premises and development levies are remitted not later than 31st January.
4. File annual returns with LIRS and other states revenue services not later than 31st January.
5. Ensure filing and remittance of CIT, ET and CGT within one week of Financial Statements approval.

1. Ensure timely collection of all tax receipts, WHT credit notes across all states revenue boards within
2. File applications for staff TCC within 6 weeks after year end.
3. Ensure application for TCC for all entities is submitted not later than 2 weeks after filing and remittance of corporate taxes.
4. Supervise the field stage and tax reconciliation meetings (states and FIRS audits) and provide comprehensive reports within 24 hours of the field stage.
5. Provide summary report and advice on new tax enactments and pronouncements within 14 days of such enactment or pronouncement.
6. Provide tax cases report and update not later than 5th day of every month.
7. File off all book closing specifications not later than 5th day of a new month.
8. Provide report and update of all tax remittances and payments not later than 15th day of every month.

Competencies and Attributes

1. Attention to Detail - being careful about detail and thorough in completing work tasks.
2. Strong analytical / problem solving skill.
3. Efficient and able to meet set targets.
4. Ability to handle multiple tasks and set priorities.
5. Should be goal oriented.
6. Exceptional organizational, prioritization, decision-making, and planning skills.
7. Effective communication and interpersonal skill.
8. Being ethical and ready to challenge the status quo.
9. Must have strong mathematical and Microsoft office (excel, MS-word, PowerPoint) skills.
10. Must have good presentation skill.
11. Working knowledge of ERP systems.

Experience and Qualifications

• Bachelor's Degree/HND in Accounting, Finance, or relevant field.
• Relevant professional certifications such as ACA, ACCA, ACTI.
• Minimum of 4 years proven professional tax practise experience.
• Big Four accounting firm experience/Fintech firm experience/Group tax planning experience