Manager – Zakat and Tax

Job Description

Role Purpose:

To prepare and review Zakat, TAX, VAT, WHT and TP filing on a monthly, quarterly and annual basis as per the relevant regulatory reporting requirements, following consultation with Bupa Group and external tax advisors as appropriate.

General

To understand and comprehend Zakat, Tax, WHT, TP and VAT regulation and guidelines.
To prepare a summary of any updates on regulation and guidelines
Understanding regulations and rules related to objections against GAZT assessments including, deadlines, formalities, communications, submissions, and and the GSTC working mechanizm.
To prepare and review all GAZT filings in lights of the guidelines and regulations on a timely manner.
To prepare and review all reposneses to GAZT queries for audits, assessments including inspections requirements.
To coordinate with zakat/tax advisors to prepare full analysis of GAZT assessment and completion of appeals documentation in a timely manner.
To prepare and review Zakat, and Tax provisions and Deferred tax calculation and disclosures in Financial Statement.
To prepare tax equalization for foregin shareholders tax position.
To ensure proper zakat and tax provisions are maintained all over the year.
Assist in preparing AOP and Forecast numbers of Zakat and Tax charges on onging basis
Provide advice to management on all Zakat and Tax and related inquiries.
Collect sales/ purchasing contracts information and to ensure complete filing of that to GAZT through ERAD.
Advanced Arabic language skills and proven ability to response to official communications with structured and organized manner.
Establish communication with the company’s relationship manager at GAZT and align with him/ her in respect to all zakat and tax related matters.
Maintaining full historical records of filings, proof of payments, reconciliations related to zakat and tax matters, and correspondences with GAZT, GSTC, and ADRC.

Zakat, Income Tax

Assist tax advisor in preparing annual zakat and income tax declarations by filling our required schedules and preparing requested breakdowns in a timely manner.
Ensure timely filing and settlement of annual zakat and tax liability.
Ensuring timely payment of advance income tax payments.
Prepare working and file retention release letters and to keep records of that.

WHT

Prepare monthly withholding tax returns in light of the regulations, GAZT interpretations, and best business practices.
Ensure timly filing of monthly returns and settlement of liability.
Review agreements with vendors and partners to advise on applicable withholding tax rates.
Understanding the double taxation treaties and their applicability on our dealings with vendors and partners.
Prepare requested breakdowns and reconciliations by GAZT related to withholding tax matters.

VAT

Prepare and review monthly value added tax returns in light of the regulations, GAZT interpretations, and best business practices.
Ensure timely filing of monthly returns and settlement of liability.
Review agreements with vendors and partners to advise on applicable withholding tax rates.
Prepare analysis of updates in VAT regulations and the impact of that on the company operations and compliance.
Prepare requested breakdowns and reconciliations by GAZT related to VAT matters.
Respond to clients quires related to VAT.
Reviewing frequently the company practice and advise on ways to improve VAT regulatory compliance.

Capital Expenditure (Capex) and Fixed Asset management

To develop, implement and maintain a Capital expenditure and fixed assets “procedures manual” for receipt and recording of fixed assets and projects in-process
To maintain fixed assets registers with appropriate classification and accounting for Company’s assets and to ensure monthly journals for depreciation and fixed asset additions together with category wise reconciliation of Fixed assets registers with GLs of assets and depreciation.
To ensure coordination and response to the queries of external auditors for accounting and valuation of Company’s fixed assets and their related depreciation.
To ensure a once per annum physical inspection of fixed assets in coordination with relevant departments for identification and proper accounting for retention and/or disposal of Company’s assets.
To conduct a monthly review of the Company’s projects in coordination with the Project Management Office (PMO) and IT team to ensure that Company’s projects are appropriately categorized and capitalized in the Company’s fixed assets register.
To complete post implementation reviews (PIRs) for projects to validate efficiency and cost savings as per the projects’ plans.
Prepare monthly fixed assets and work in progress reports.

Skills

Education

Bachelors Degree in Accounting
CA / CPA / CMA is desirable

Experience Fields

Publicly listed company
Saudi Insurance experience is a plus
IFRS / SOCPA knowledge
Zakat, Tax, VAT, WHT and Transfer pricing knowledge
Competent in both Arabic and English languages written and spoken

Education

Bachelors Degree in Accounting
CA / CPA / CMA is desirable

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