What does a tax manager do?
A tax manager is critical in ensuring a business complies with tax regulations. The primary responsibilities of tax managers involve reviewing and analysing tax documents and financial reports — to ensure they meet regulatory standards.
By hiring a tax manager, a company can ensure that it is fulfilling its tax obligations, while minimising the risks of penalties and legal issues. A tax manager also helps identify tax-saving opportunities and maximises efficiency, boosting the financial performance.
The roles and responsibilities of tax managers are not specific to a particular industry. Their expertise is required across various fields.
- In the financial industry, tax managers help clients prepare and file tax returns, manage tax audits and ensure compliance with tax regulations.
- In the manufacturing industry, they manage tax planning and compliance across different business units and countries, ensuring tax liabilities are accurately reported.
- In the retail industry, they manage sales tax compliance and guide on tax implications of business decisions.
In India, tax managers are also responsible for managing Goods and Services Tax (GST) compliance and providing advice on indirect taxation.
Job Description: Template
We're looking for an adept and skilled tax manager to add to our team at [Company name].
As a key member of our finance department, you'll ensure compliance with tax laws and regulations and contribute to our goal of maintaining financial accuracy at our organisation. You will also oversee all tax-related functions, including filing tax returns, advising the leadership team and managing tax audits.
The ideal candidate possesses a strong background in tax law and regulations, experience managing tax compliance and a passion for providing exceptional tax planning and advice.
We offer competitive pay, benefits and ample opportunities for internal growth. We are proud to be an equal opportunity company and invite applicants from all backgrounds to apply.
Objectives of this role
- Developing and maintaining tax plans, compliance procedures and risk assessment frameworks, to ensure effective tax management.
- Managing and overseeing the filing of regular tax returns, including income tax, GST and other direct or indirect taxes.
- Collaborating with finance and accounting teams to ensure our tax strategies and policies are implemented accurately per national tax compliances.
- Identifying, tracking and reporting any potential financial risks or issues and working closely with the accounting teams to implement appropriate solutions.
Your tasks
- Conduct a thorough analysis of taxes to provide expert advice on tax planning and optimisation opportunities to ensure compliance with local regulations.
- Coordinate and manage tax audits, inquiries and notices from tax authorities.
- Maintain documentation and records related to tax filings, provisions and other tax-related activities.
- Collaborate with other departments and teams, such as finance, legal and operations, to ensure alignment and coordination on tax matters.
- Provide guidance and support to internal stakeholders on financial issues, including tax implications of business decisions and transactions.
- Stay updated with changes in tax laws and regulations in India and proactively identify potential risks or opportunities for the organisation.
- Foster a culture of tax compliance and awareness throughout the organisation, providing training and support as needed.
Required skills and qualifications
- A bachelor’s degree in commerce, accounting, taxation or a related field.
- Professional qualification of Chartered Accountant (CA) or Certified Public Accountant (CPA).
- Minimum of 5 years of experience in tax management, preferably in a corporate or public accounting environment.
- Strong understanding of tax planning strategies and experience in managing indirect taxes, including Goods and Services Tax (GST).
- Exceptional communication and interpersonal skills to effectively collaborate with internal and external stakeholders.
- Excellent analytical and problem-solving skills with strong attention to detail.
Preferred skills and qualifications
- Knowledge of Tally, QuickBooks, or related tax management software.
- Strong knowledge of Microsoft Excel and Microsoft Office.
- Familiarity with enterprise resource planning (ERP) software like SAP or Oracle.
- Experience in leading and managing a finance team.