Job Description
The Indirect Tax Specialist will be responsible to:
Keep up to date with the UAE VAT law and provide the necessary and timely information to the organization to ensure compliance with the law, all the legalities and change in the regulation.
Evaluation of risks as well as opportunities regarding respective tax issues.
Timely and accurate preparation and filing of periodic VAT returns. Maintaining check list and VAT calendar to meet the deadlines.
Dealing with all tax audits, queries and assessment by the Federal Tax Authority and replies to various queries raised by external auditors/consultants.
Liaising with external tax consultants for VAT return review, complex tax issues and leading the organization to current best practices.
Initiate and continually improve the effectiveness and efficiency of internal control, business processes and systems in terms of VAT accounting, record keeping and documents compliance requirements by Federal Tax Authority.
Provide strategic advice and recommendations to cope with the new developments in the law to support the timely action by the University.
Duties and Responsibilities
Your main responsibilities in this role include the following:
End to End compliance with tax laws as applicable.
Handling all VAT related queries in the organization and acting as a key player in for spreading VAT awareness and changes required from operational perspective.
Working closely with IT (MIS) team to develop the tax codes and tax reports as per the VAT filing and compliance requirements and to keep up to date with all the new developments with the UAE VAT law.
Delivering VAT workshops to the University Community.
Liaising with various departments for instance conference units, facility management, research departments, procurement, service department, student activities and others to understand the business transactions and enhance their level of communication with finance team and flow of information necessary for VAT compliance
Liaising with profit centers such as SCASS on monthly basis to provide details of the revenue collected, tax invoices raised, and documents kept as per the record keeping requirement.
Liaising with property agents, to provide timely and complete information on income earned and expenses incurred on behalf of UOS, and provision of tax documents necessary for meeting UOS tax compliance obligation.
Provide process manual / guideline to Finance team for using various tax codes for different types of expenses attributable to business and non-business activity.
Preparation of Tax schedules, working papers and reconciliation, ensuring that figures disclosed in tax returns are tallied with books.
Calculation and application of accurate recovery percentage on quarterly basis for residual cost that is attributable to the business and non-business activity. And at the end of the tax year calculating and adjusting input tax recovery of the residual cost based on the recovery percentage for the entire tax year.
Making sure that all the revenue earned (taxable, zero rate and exempt) is accounted and reported in the same tax period accurately and tax obligations are settled.
Similarly making sure that all the expenses / purchases are accounted within the stipulated time period to claim the tax credit.
Calculation and payment of tax under reverse charge, ensuring the correct recoverability percentage is applied to the correspondent tax credits.
Verify Tax Invoices and Tax Credit Notes raised by the AR team to ensure they are compliant.
Train, educate and mentor Finance team to ensure that tax codes are used accurately for the supplier invoices, international purchases and intra GCC transactions and making sure that the supplier tax documents are compliant to claim the tax credit accurately.
Checking and ensuring only eligible input credit is taken in the VAT returns and performing sanity checks based on previous tax returns.
Follow up for the Tax refund request from Federal Tax Authority
Preparing closing Journal entries post VAT filing and any other duties assigned by the management.
Job Requirements
GCC VAT Diploma (ATT) and experience as a VAT Consultant.
Professional Qualification and more than 10 years experience.
Proficient level of Excel, Outlook, Word and Power Point and ERP software.
Expert in UAE VAT laws.
Competencies
Detailed and updated knowledge of UAE VAT law, tax filing, accounting, reporting and compliance.
Proactive and result oriented with sound analytical, reporting and report writing skills.
Updated knowledge of International Financial Reporting Standards (IFRS) and Preparation of complete Financial Statements as per IFRS. Well versed with all
Finance/Accounting processes and functions.
Analytical review of financial performance by using various tools like ratio analysis, trend analysis, common size balance sheet and income statement etc.
High-level problem-solving skills to overcome adversity and guarantee efficiencies in the team. Resilience to successfully meet the tight deadlines with End to End responsibility for accuracy and completeness of work.
Perceptive communicator with the capacity to engage, compel and liaise with colleagues, executives and external stakeholders.
Being adaptable and flexible to challenge conventional ways of working and learn new and more efficient ways. Eager to learn and grow and contribute best to the organization.
Good team player, working independently as well as working effectively with others to achieve common goals.
Job Details
Company/Organization: University of Sharjah
Vacancy Type: Full-time Job
Job Location: Sharjah, United Arab Emirates
Application Deadline: 20 December 2018
