International Tax Specialist at Absa Group Limited (Absa)

Job Summary

• To take full responsibility for the development and maintenance of tax reporting processes for Absa Africa by compiling monthly, quarterly and annual financial reports & tax computation for internal and external users and by completing statutory returns timeously and accurately

Job Description

Accountability: Financial and management reporting

• Manage the completion of tax runs of Absa Africa business units or functional areas, by running the various reports to confirm that all bulk runs were done and accounted for; compile the tax consolidation as  required.
• Reconcile employer submissions to source system and actual bank payments and take corrective action where necessary. These submissions include the:
• Reconcile Retirement Deferred Annuities (RDA) and clients withdrawals to the EMP201 and take corrective action where necessary

• Reconcile monthly EMP201s to the EMP501 returns and take corrective action where necessary
• Reconcile IT88 submissions to source documentation and actual bank payments and take corrective action where necessary
• Reconcile ITA88 submissions to source documentation and actual bank payments and take corrective action where necessary
• Reconcile Dividend Withholding Tax (DWT) submissions to source system and actual bank payments and take corrective action where necessary
• Reconcile I-Tax reports to actual payments to the South African Revenue Service (SARS) or other relevant tax authorities and take corrective action where necessary
• Reconcile Bank Recon system reports to the various tax payments to ensure all amounts are accounted for and take corrective action where necessary
• Reconcile the tax SAP ledger accounts to source system
• Refine the reporting process by constantly adapting systems and procedures to enhance workflow, making it more time efficient
• Maintain templates used by the Bank Recon, Administration systems and other systems
• Use systems and templates which include the Excel based tax packs and consolidations, Absa Africa Excel based tax base forecasting template, SAP and SARS e-filing to ensure compliance (IRP5, IT3a and IT3c)\
• Check and/or co-sign all outputs relating to Tax with the Manager: Finance & Administration in accordance with Absa Africa tax policy

Accountability: Tax compliance

• Complete and/or review all tax returns and submissions to SARS (or other relevant tax authorities) ensuring that the submissions agree to source systems and documentation
• Follow up on all submissions to SARS (or other relevant tax authorities) to ensure they were duly received
• Assist with the preparation of the AIMS Nominees tax return (bi-annually)
• Review tax assessments and lodge objections and/or appeal on behalf of the Bank when necessary
• Arrange and/or monitor tax payments to and/or request refunds from SARS (or other relevant tax authorities)including those done on behalf of the Bank by designated intermediaries
• Follow-up on all payments made and assist with all client queries relating to tax authority payments. Also update the relevant reconciliation with each payment
• Review and sign-off of tax returns in relation to supporting documents, schedules and annual financial statements as prepared by colleagues
• Provide relevant tax authorities with reconciliations and explanations as and when requested
• Manage the preparation of yearend tax certificates by liaising with the IT department on the generation of tax data and co-ordinate the testing of the tax data with LISP Operations
• Manage the transactions that are included in each tax certificate and keep these up-to date with any changes
• Ensure the tax certificate layouts are kept up-to-date
• Accountability: Networking
• Establish and maintain effective relationships with Absa Africa Finance in providing accurate tax numbers for reporting purposes on a timeous basis
• Act as the liaison between AIMS and Absa Group Tax on all pertinent issues
• Establish and maintain a good relationship with all the Absa Africa subsidiaries by providing tax support
• Establish and maintain effective  relationships with relevant stakeholders by providing tax support (i.e. providing tax knowledge, advice, etc.)
• Establish and maintain effective relationships with the auditors by providing  workings, supporting evidence, documentation, and explanations
• Establish and maintain  effective relationships with relevant tax authorities by ensuring  compliance with relevant local Tax Law
• Provide tax training to Absa Africa staff when required

Knowledge & Skills: (Maximum of 6)

• Knowledge of tax laws in general and investment, retirement fund and insurance related in particular
• Knowledge of IFRS (Level: Advanced )
• Reporting Skills (Level: Expert )
• Analytical Skills (Level: Expert )
• Financial and management skills (Level: Advanced)

Education

• Bachelor`s Degrees and Advanced Diplomas: Taxation (Required)