Taxation Manager

 

 

Main Objectives

Examine international and local corporate tax, VAT, Sales, service and customs tax regulations to minimize the tax liabilities, work with the Government of Bahrain to put in place a tax efficient environment for Gulf Air and ensure that international and local tax regulations are complied with.

Main Duties

• Examine and gain understanding of the tax regulations in each country of operation in the following areas

1. Corporate Tax
2. Value Added Tax
3. Sales and Service Tax
4. Customs Duty
5. Income Tax on Salaries of staff
6. Capital Gains tax on Sales and purchase of Company Assets
7. Any other taxes that the company may be liable to pay.

• Ensure international and local tax and customs regulations are fully complied with by Head Office and Stations to avoid breaching applicable laws and consequently incurring fines, penalties or even criminal prosecutions in courts of law.
• Advise Finance Managers and Financial Controllers in Outstations and Finance Managers in Head Office on the Company’s tax status, obligations and tax regulations. Similarly, render an advice on tax issues to other Departments.
• Draft letters in the name of CEO, CFO, Director Accounting or Senior Manager Outstation Finance on tax issues to the Government and other authorities and taking the initiative in preparing these letters.
• Identify areas for savings on tax payments, find ways and means in obtaining savings and refunds and argue the Company’s case with tax officials.
• Analyze and compile data on taxes paid or payable by the Company around the network.
• Work with other airlines and world bodies notably IATA on securing favorable tax treatments wherever it is possible and represent the Company in meetings regarding taxation. Review development regarding taxation affecting the airline industry in general and Gulf Air in particular.
• Participate in the production of the Company’s business plans and the annual budget for taxation.
• Deal with the Company’s auditors both internal and external as well as the auditors of the Government of the Kingdom of Bahrain and provide them with the information they require, investigate their comments and implement their recommendations as the case may be.
• Identify, evaluate and shortlist the tax consultants for providing various tax consultancy services. Follow up and liaise with procurement department or country managers for the appointment of consultants. Prepare annual budget for the consultancy fee payable across the network.
• Undertake analysis on various aspects of the Company’s activities as and when requested by senior management to assist them in their decision-making on tax matters.
• Liaise with legal affairs department in respect of following:

1. To ensure that all necessary corporate and tax registrations are maintained and updated as required.
2. To provide necessary information for handling tax cases that have been referred to appellate tribunals and courts. This includes assisting legal affairs department in appointing lawyers to represent the company in such cases.
3. Liaise with legal affairs department in registration and maintenance of branch registrations based on merits of each case.

• Liaise with Corporate Affairs and Communications department to obtain company information, board resolutions and letters to the authorities in connection with tax compliances.
• Identify tax and customs liabilities, determine their magnitude and the amounts that are payable. Formulate policies on how these liabilities could be minimized and/or settled.
• Analyze the legitimacy of tax claims and verifying their accuracy, file tax or cause returns to be filed with the concerned tax authorities and authorize payments in accordance with the limits of authority.
• Identify opportunities for making beneficial use of applicable tax regimes to benefits Gulf Air’s business.
• Maintain close contacts with senior officials of the Government with regard to taxation. Encouraging them to provide the Company with favorable tax environments in its home region and convincing them of the arguments for obtaining tax concessions to the Company in other countries. Assisting them in their negotiations of tax issues with foreign governments and participate in these negotiations if required in support of the Company’s interests.
• Review and interpret current and future taxation treaties to which the Kingdom of Bahrain is or is considering becoming a party to.  Ensure that the Company maximizes the benefits of any such treaties.
• Investigate and determine taxation strategies for existing and future investment holdings and make recommendations.
• Prepare briefs on tax issues, liabilities and problems facing the Company to the Government. Attend to their queries, supporting them in their tasks and provide them with details and all the information they need about tax systems in other countries. Reviewing draft tax treaties proposed by the Government and make comments accordingly.
• Prepare Bahrain VAT returns and ensure its timely submission. This also includes the application of the partial exemption method. Calculate and arrive at the VAT amount for BAH VAT that needs to be submitted to NBR.
• Assist Heads of other units/CFO with ad hoc tax queries and tax aspects of projects.
• Review tax clauses in the agreements entered by the Client with other parties to ensure compliance with tax laws, rules and regulations.
• Coordinate tax audits.
• Address and resolve any VAT-related queries raised in respect to KSA, UAE, Oman and Bahrain operations.
• Review the VAT declarations and other related tax compliance directly linked to the VAT registration (“other returns”).
• Prepare the draft returns and accompanying workings, advise the VAT liability and provide directions for making the payment.
• Analyze the exceptions and errors and ensure issues are addressed.
• Review invoices in each tax reporting period. The review will include both a formal and a basic VAT contextual check. Any issues identified to be addressed.

• Review of the VAT control and business processes and compare with legal regulations (local VAT law) and requirements.
• Analyse customer and vendor documents (VAT invoices, credit notes, debit notes and associated POs issued).
• Review of processes of maintaining relevant documentation to support certain VAT treatments.
• Review the ERP system configurations to ensure support and enablement of the VAT compliance and reporting processes and to support timely and accurate tax reporting.
• Review of tax codes within the ERP system and provide updates, as needed (superfluous tax codes and new tax codes required).
• Review of processes for ERP configuration change management.
• Review VAT policies on obtaining credits for all import VAT that will be incurred and utilizing any opportunities to reduce cash flow costs.
• Any other tasks that the supervisor may assign from time to time within the department.
• Responsible for subordinates KPIs and required to complete all stages of performance management system.

Education & Experience

• A University degree in Finance/law with either a taxation or accounting qualification and expertise and experience in international taxation matters including dealing with such matters as VAT (and/or general sales tax), income tax, corporate taxation matters and transactional tax matters (such as stamp duty and other document taxes).
• Knowledge and experience of customs and excise matters would be desirable.  Good command of computers, strong analytical.
• Professional degree in Finance, Accounting or Taxation will be an added advantage, writing and numerical skills as well as a good command of English.
• A minimum of 5 years in an internationally oriented taxation practice.

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