Job Description
The Job
• Responsible to review of group tax structure and identify tax planning opportunities in order to optimize tax outflow from the group and highlight to senior management.
• Responsible and accountable to maintain a reasonable effective tax rate (ETR) at each entity level and group level.
• Responsible to act and bring ETR under desired level where necessary.
• Responsible and accountable to avail tax exemptions and concessions by restructuring existing procedures and processes to save tax outflow from the group.
• Responsible to identify any tax leakages and recommending alternatives to business owners within the group and implementing changes without impacting business.
• Responsible for periodic review of group transactions and suggesting proposals to optimize tax outflow and accountable to senior management to maintain optimal tax structure with full compliance.
• Responsible to review of business proposals, plans and agreement to identify tax implications of the transactions
• Responsible to highlight and advise any tax leakages identified in the proposals.
• Responsible to review the tax clauses and payment clauses to determine whether these are in line with standard tax clauses used by the group
• Responsible to make amendments to agreement clauses in order to avoid tax leakages and save taxes to group by avoiding unfavorable clauses in agreements/contracts.
• Participate and advise on tax related matters in contract negotiations in the best interest of group and to reduce cost to group.
• Responsible to propose, structure and recommend clauses and processes to be in full compliance with laws and regulations by the group
• Responsible to advise senior management of any changes in laws and regulations and accountable to implement changes to internal procedures and systems to be in compliance.
• Responsible to highlight any risky areas to senior management and to make recommendations and accountable to implement changes where necessary.
• Responsible and accountable to make sure group entities are in compliance with TP Regulations and all required documentations and files are available and up to date.
• Responsible to install, monitor and periodic review of an effective mechanism to identify all related party transactions initiated within the Group
• Responsible to review and approve board papers prepared to present/circulate for the approval of Related Party Transactions Review Committee (RPTRC) and to evaluate the pricing for arm’s length compliance.
• Responsible to identify and highlight transactions which has not followed the standard protocol and make sure these transactions are in compliance with TP Regulations.
• Responsible to get involved in RPT discussions and to providing recommendations and benchmark pricing as per the TP Regulations published.
• Responsible to engage with external consultant in preparation of TP documents, benchmarking and reports and accountable to provide all relevant information necessary to prepare these reports.
• Responsible to respond IRD queries in relation to TP matters and making sure that there are no additional taxes or penalty payable and to defend benchmarking done by each entity and group.
• Monitor/Supervise/Manage preparation of (direct and indirect) tax computations, schedules, tax payments and being responsible for timely filing of tax returns and payments.
• Responsible for review and approve responses prepared by tax team to submit to relevant authorities and be accountable for information provided.
• Accountable and responsible to make sure there are no compliance related issues and maintain a “zero non-compliance” for the Group.
• Responsible to avoid additional tax payments and penalties and be accountable for any such instances
The Person
• Degree/ MBA in the field of finance or accounting or Professional qualification (member of CASL/CIMA/ACCA)
• Minimum 6 years of experience and exposure to taxation, financial accounting and other related finance works including 4-5 years exposure to tax compliance/advisory
• Rich working experience in all aspects of tax, including advisory and compliance
• Advance and sound knowledge of taxation in SL and the relevant tax legislations.
• Able to apply technical creative knowledge in a commercial decision.
• Ensures accuracy and ability to turn out work that is consistently up to standard.
• Aware of the most effective and efficient ways to perform a task, function or process including Microsoft office tools - word, excel, power points etc
• Responsible to review of group tax structure and identify tax planning opportunities in order to optimize tax outflow from the group and highlight to senior management.
• Responsible and accountable to maintain a reasonable effective tax rate (ETR) at each entity level and group level.
• Responsible to act and bring ETR under desired level where necessary.
• Responsible and accountable to avail tax exemptions and concessions by restructuring existing procedures and processes to save tax outflow from the group.
• Responsible to identify any tax leakages and recommending alternatives to business owners within the group and implementing changes without impacting business.
• Responsible for periodic review of group transactions and suggesting proposals to optimize tax outflow and accountable to senior management to maintain optimal tax structure with full compliance.
• Responsible to review of business proposals, plans and agreement to identify tax implications of the transactions
• Responsible to highlight and advise any tax leakages identified in the proposals.
• Responsible to review the tax clauses and payment clauses to determine whether these are in line with standard tax clauses used by the group
• Responsible to make amendments to agreement clauses in order to avoid tax leakages and save taxes to group by avoiding unfavorable clauses in agreements/contracts.
• Participate and advise on tax related matters in contract negotiations in the best interest of group and to reduce cost to group.
• Responsible to propose, structure and recommend clauses and processes to be in full compliance with laws and regulations by the group
• Responsible to advise senior management of any changes in laws and regulations and accountable to implement changes to internal procedures and systems to be in compliance.
• Responsible to highlight any risky areas to senior management and to make recommendations and accountable to implement changes where necessary.
• Responsible and accountable to make sure group entities are in compliance with TP Regulations and all required documentations and files are available and up to date.
• Responsible to install, monitor and periodic review of an effective mechanism to identify all related party transactions initiated within the Group
• Responsible to review and approve board papers prepared to present/circulate for the approval of Related Party Transactions Review Committee (RPTRC) and to evaluate the pricing for arm’s length compliance.
• Responsible to identify and highlight transactions which has not followed the standard protocol and make sure these transactions are in compliance with TP Regulations.
• Responsible to get involved in RPT discussions and to providing recommendations and benchmark pricing as per the TP Regulations published.
• Responsible to engage with external consultant in preparation of TP documents, benchmarking and reports and accountable to provide all relevant information necessary to prepare these reports.
• Responsible to respond IRD queries in relation to TP matters and making sure that there are no additional taxes or penalty payable and to defend benchmarking done by each entity and group.
• Monitor/Supervise/Manage preparation of (direct and indirect) tax computations, schedules, tax payments and being responsible for timely filing of tax returns and payments.
• Responsible for review and approve responses prepared by tax team to submit to relevant authorities and be accountable for information provided.
• Accountable and responsible to make sure there are no compliance related issues and maintain a “zero non-compliance” for the Group.
• Responsible to avoid additional tax payments and penalties and be accountable for any such instances
The Person
• Degree/ MBA in the field of finance or accounting or Professional qualification (member of CASL/CIMA/ACCA)
• Minimum 6 years of experience and exposure to taxation, financial accounting and other related finance works including 4-5 years exposure to tax compliance/advisory
• Rich working experience in all aspects of tax, including advisory and compliance
• Advance and sound knowledge of taxation in SL and the relevant tax legislations.
• Able to apply technical creative knowledge in a commercial decision.
• Ensures accuracy and ability to turn out work that is consistently up to standard.
• Aware of the most effective and efficient ways to perform a task, function or process including Microsoft office tools - word, excel, power points etc
💡 Quick Summary
Seeking a career-building opportunity? The Assistant Manager | Group Taxation position is now open for candidates interested in the MIS Executive sector. This role in Colombo offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in MIS Executive is a plus.
