Head: Tax Cib - Sandton, South Africa - Absa Bank Limited

Absa Bank Limited

Verified Company

Sandton, South Africa

1 week ago

Posted by:

Thabo Mthembu

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Description

Bring your possibility to life Define your career with us

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Head of Tax role for CIB Pan Africa, including Treasury leading a team of experienced banking tax professionals.

This role takes full ownership, accountability and responsibility for coordinating the support of CIB activities by the AGL Tax team.

The CIB Pan Africa Head of Tax will lead the relationship of AGL Tax with the CIB Chief Financial Officer (CFO), CIB front office heads, ARO CFOs and external bodies (eg auditors and regulators) in relation to CIB matters.

In addition, the role will lead the delivery of International tax advice, opportunities in relation to initiatives or projects within Absa Group Limited, Absa Bank Limited, Absa Regional Offices.

The role requires broad knowledge of all taxes including corporate Income Tax, International Tax, Value Added Tax, Capital Gains Tax and Securities Transfer Tax, etc

Job Description:

Key Accountabilities

Accountability:
Tax advice /Tax Structuring and business support

Develop and lead relationships with key stakeholders in the relevant business unit, e.g., CIB CFO, ARO CFOs, Business and infrastructure heads (including Legal, Compliance, Risk,). Proactively communicate major items (e.g., risks and opportunities) to stakeholders, guiding them on key technical, reputational, and commercial issues from a tax perspective.
Implement a tax approach which is aligned to and supports the CIB strategy, appropriately optimising the tax position on commercial transactions.
Ensure the team delivers high quality advice:
Suitably early in the process in relation to new products and other business initiatives; and
Proactively in relation to potential opportunities for tax efficiencies, identifying and mitigating tax risk, and explaining and managing of changes in tax law.
Advise management on all matters relating to tax, particularly relating to the development of new activities, new ventures, new investments, disposals and new products.
Influence legislative changes by interacting with National Treasury on tax policy matters.

Accountability:

Compliance and Reporting:

Ensure required tax compliance is in place as directed by legislation, adopt new requirements and drive adherence to the legislation.
Ensure all direct and indirect tax filings/matters are current, accurate and up to date.
Review highrisk tax returns and disputes to mitigate tax risk.
Ensure replies to enquiries from Revenue Authorities are appropriately managed.
Ensure procedures are in place to make timely tax payments.
Ensure tax training is provided to businesses as regards tax compliance, to enhance the level of compliance.
Manage tax disputes and negotiate tax settlements where appropriate.
Interact with tax authorities to discuss tax compliance matters and establish/maintain appropriate relationships.

Accountability:

Management of Tax Risk:

Ensuring Tax controls and processes are documented, understood and effectively implemented.
Ensuring risk frameworks, appetite and limits are communicated and understood by relevant colleagues, and that transactions are appropriately reviewed against these.
Quantifying risks and communicating the status of the risk environment (utilising both qualitative and quantitative factors) on a regular basis.
Ensuring plans are in place to remediate known or inherent risks.
Ensure tax reviews are conducted to enhance compliance with tax legislation, regulations and policies and to effectively manage tax risks.
Record analysis and conclusions clearly, including references to supporting work papers (and their location) and the basis on which assumptions were made. Where appropriate, obtain opinions and advice from external specialists to support. Ensure conclusions of external/internal tax advice are delivered to the Forecasting, Reporting and Compliance team within Tax to enable effective financial reporting of tax effects and correct filings in tax returns and payments are made.
Oversee the resolution of discussions with external auditors at an early stage to agree financial statement position of activities and transactions regarding CIB.
Set the agenda and coordinate the production of papers for the CIB Tax Committee (for which the CIB Head of Tax will also be a member).

Accountability:
Networking

Participate as a member of BASA Tax Committee, Absa Group Tax Committee and CIB Tax Committee.

Attend the BASA

SARS Tax Forums as a member.
Ensure tax training to businesses is provided where appropriate to enhance tax awareness and effective tax management.
Interact with senior SARS (or other tax authorities) officials to discuss any tax issues, disputes or obt