Manager, Taxation

Manager, Taxation

Location: Kuala Lumpur Job Function: Taxation Employment Type: Permanent

The Manager, Taxation reports directly to the Group Tax Manager, Taxation and responsible in leading a team of analysts in fulfilling Malaysia tax compliance reporting requirements to the tax authorities, Joint Venture (JV) partners, Head of Finance, Hibiscus Malaysia and CFO of Hibiscus Group Finance. This role required to work closely with other teams within Finance department to support all reporting requirements

Primary accountabilities:

1. Ensure compliance with of Petroleum Income Tax, Corporate Income Tax, Sabah State Sales Tax, Service Tax on Imported Taxable Service, Withholding Tax and Transfer Pricing.
2. Manage relationships with Joint Venture partners and government authorities on taxation compliance and tax audit matters.
3. Involve in tax planning, forecasting, collaborate with other departments for such purpose.
4. Provide tax technical guidance and support to other departments as and when required.
5. Work with the government authorities for policies that impact Hibiscus Group positively.
6. Corporate Merger & Acquisition and tax due diligence exercise as and when required

KEY ACCOUNTABILITIES

1.

Compliance

• Review, approve, and submit the following returns and payments:
• Petroleum Income Tax returns
• Corporate Income Tax returns
• Initial estimates and revised estimates of PITA and CITA
• Service Tax
• Sabah State Sales Tax
• Withholding Tax
• Ensure Transfer Pricing report is prepared by the statutory due date and to be submitted upon request by IRB.
• Ensure compliance withto the Stamp Duty requirements.

2.

Planning and Advisory

• Review tax estimates for submission to the IRB, work with Planning Team to minimize cash outflow within the margin of safety.
• Review Economic Model from Planning and Performance Management team to identify tax efficiency and or remedy tax leakages.
• Review and comment agreements from a tax perspective.
• Build defense paper for issues identified

3.

Audit and Appeals, and Litigation

• Manage MIRB tax audit queries.
• Submit appeals and liaise with external legal consultants for dispute resolution discussion with and/or meeting with the Dispute Resolution Panel for technical discussions.
• Build the defense with supporting evidence, technical argument, commercial justification and precedent case laws in case of challenge by the MIRB/ Customs during an audit.
• Identify witnesses for signatory on the affidavits for the Company in tax litigations.

4.

Liaison with External Parties

• Liaise with Ministry of Finance Malaysia to resolve issues arising from PM3 CAA PSC that involved another host country, i.e. Vietnamese Tax Authority.
• Liaise with Production Sharing Contract (PSC) JV partners to achieve agreement on additional tax and penalty sharing upon finalization of audits.
• Keep JV partners posted of the progress of appeals, court hearings and settlements.
• Manage relationships with the authorities.
• Manage engagements with external consultants.
• Attend the Malaysian International Chamber of Commerce and Industry (MICCI) Fiscal and Economic committee meetings.

5.

Tax Accounting and Reporting

• Review and approve monthly tax provision for both current and deferred taxes and propose the tax entries for booking into accounting system.
• Review and submitting the quarterly tax reports submission to Group Finance on current & deferred taxes and effective tax rate calculation and normalization.
• Review the annual exercise on assessment of valuation allowance required to derecognize any of the deferred tax asset.
• Review and validate information for monthly tax reporting for submission to Planning in respect of statutory payments to governments.
• Update Group Finance of the audit risks, litigation risks, progress of appeals and hearings in courts.

6.

Tax Input on Corporate Merger & Acquisition and tax due diligence exercise

• Be involved in reviewing and providing tax input for any of such exercise.
• Appointment and liase with external consultants, monitor the deliverables.
• Liaise with Authorities including Malaysian Inland Revenue Board, Ministry of Finance Malaysia, PETRONAS when the need arise.

7.

Administration Functions

• Review and approve tax accrual and payment; manage tax budget; provide tax information and impact to Free Cash Flow; approve and posting of journals.

REQUIREMENTS AND QUALIFICATIONS

1. Possess at least a relevant Bachelor’s Degree from accredited universities or academic institutions or in relevant tax or accounting professional qualification or equivalent (e.g. ACCA, MACPA, CIMA etc.).
2. At least fifteen (15) to twenty (20) years’ working experience in the field of accounting / taxation with experience in large accounting firms is preferred.
3. Knowledgeable of the principle of hydrocarbon allocation from terminal to reservoir
4. Strong commercial knowledge
5. Proficient in Petroleum Income Tax Act, Income Tax Act, Transfer Pricing Guidelines and tax treatments on Accounting Standard
6. Leadership skill able to lead and mentor a team of staff

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