Financial Planning & Accounts Officer at HRD Solutions

Job Objective

To effectively manage the relationship between the MfB and tax authorities, ensuring smooth and compliant interaction with Inland and Internal Revenue Services.

Duties & Responsibilities

• Ensure full compliance with all relevant tax laws and finance acts applicable to the MfB (CIT, EDT, PAYE, WHT, VAT, TP, CRS, etc.)
• Monitor and ensure timely payment of taxes to relevant government authorities
• Ensure correct deductions of taxes from applicable transactions
• Coordinate tax audits and supervise tax functions across the organization
• Identify opportunities within the tax system and laws that the MfB can leverage
• Establish and maintain processes for prompt filing of annual tax returns (PAYE and company income tax)
• Review tax accruals (PAYE, WHT, and CIT) in the general ledger for adequacy and reconcile to schedule
• Perform year-end accrual reviews and prepare tax provisions with supporting schedules
• Collaborate with the payroll unit to ensure correct tax deductions
• Handle all tax information requests, including processing of tax clearance for staff and the organization
• Improve tax processes by developing and implementing best practices
• Identify and mitigate tax risks
• Provide innovative tax planning solutions for staff and the organization
• Ensure prompt responses to queries, demand notices, and other correspondences from government authorities before deadlines
• Manage remittance of WHT deductions and VAT payments to relevant tax authorities
• Provide monthly updates on tax information and risk mitigation status

Key Performance Indicators

• Timeliness in preparation of all necessary tax reports and returns
• Timeliness in response to requests and queries from revenue services
• Minimization of financial exposure or loss due to negligence in tax-related matters