Team Leader - Indirect Taxation

Job Purpose:

Responsible for adopting tax positions basis the tax laws and the business models for optimum efficiencies and for determining organizational liabilities to tax authorities. To represent before government and tax authorities for tax changes and ensuring adequate tax provisions on account of litigations and reversals basis risk assessment. Ensuring compliances of tax laws to satisfy BAGIC s tax obligations in a timely manner such as timely payment of taxes, filing of tax returns, etc.

Additional tax responsibilities include supporting sales and business teams with tax views for customer acquisition by resolving their tax queries and ensure timely and accurate tax filings, tax payments and tax compliances.

Principal Accountabilities:

1. Tax planning and Compliance

• Develop taxation plan to identify and leverage tax synergies, reduce tax burden at the same time ensure tax compliance with statutory requirements
• Guide and review team in preparing direct and indirect tax outflow predictions, financial impact of GST input tax reversal, inputs on financial impact of litigations etc.
• Review and restructuring of existing business models for optimization in saving of tax costs and cash flows.
• Coordinate with other Finance teams such as planning, vendor management etc. to ensure right data and calculations and other tax saving opportunities
• Participate in discussions led by the senior management to finalize financial impact numbers
• Identify and mitigate tax risks
• Tax planning on new business initiatives, Transaction advisory and structuring for most optimal solution including day to day transactions to optimize tax outflow maintaining high standard of compliance
• Interpret upcoming tax legislations/ provisions and analyze their implications for BAGIC s business to be shared with senior management

1. Managing litigations and representations

• Appear for legal hearings, along with the Legal Counsel, and represent/ explain tax positions
• Represent the Company before GI Council and the Ministry of Finance for making representations on key issues for the Company and the Industry
• Represent the Company before the tax authorities for assessments and other matters
• Respond to legal notices, leveraging consultants where required for answering queries and data requests
• Respond to all types of queries by tax authorities, representing in person, if required

1. Return filing, payments and compliances

• Review all tax positions - direct and indirect, in terms of risk vs. conservativeness
• Review all data pertaining to all computations every month before return filing or payments
• Ensure monthly and quarterly return filings (such as GST, TDS etc.), monthly tax payments (TDS, GST) and annual compliances (such as IT returns, GST annual returns etc.) are done on time
• On an ongoing basis, identify opportunities for automation and data clean-up, building scenarios in coordination with functional owners
• Ensuring advance tax amount is determined and paid in line with Budget
• Provide guidance and reports for all tax matters, new updates, including tax audit, timely and accurate payment of taxes, cross border transfer pricing issues, Advance Pricing Agreement
• Support implementation of new ERP and Other systems meeting tax requirements, automated reporting, collaboratively work with IT for system upgrades, changes, participate in User Acceptance Testing, user documentation etc.
• Ensure all change requests with respect to tax-related clauses in vendor contracts are deliberated and responded to
• Ensure all the monthly closing activities including passing of accounting entries for tax are complied with

1. Audit support and quarterly audit closing

• Support different types of audits such as Statutory audits, Tax audits, GST audits, IFC Audit providing necessary information as required (such as MIS, amount of contingent liability etc. for quarterly statutory audit)
• Explain all tax positions during audits, as required
• Ensure all data is in place and reconciliation formats are as per requirements for GST audits
• Review timely and accurate reporting of the companys tax provision computation (including ETR) related issues for financial statement reporting

5. Team development

• Conduct knowledge transfer and encourage learning for team members including weekly tax updates based on recent rulings and decisions, and send team members to attend external seminars/ talks
• Participate in recruitment process to identify the right talent for various positions within the function
• Establish individual performance expectations and evaluation metrics, and regularly review individual performance

Educational Qualifications

1. Qualifications

• CA is a must
• Profound knowledge of direct tax and indirect, act rules and notifications.
• Awareness about the latest provisions of tax laws,
• Experience in insurance industry/ financial services preferred
• Fluent in effective communication to internal and external stakeholders

1. Work Experience

• Minimum 8+ years of experience in taxation
• Insurance industry experience (preferred)
• Experience of direct and indirect taxation (preferred)
• Representation and Liasioning with Tax authorities
• Handling Auditors (Internal and External)
• Submission of information to tax authorities
• Handling Tax assessment, scrutiny, or audit by tax authorities