Indirect Tax Specialist: VAT Consultant at Absa Group

Job Summary

• The specialist role is within the Absa Indirect Tax team that is responsible for VAT compliance and advisory support services to all the areas within the wider Absa Group, including long term insurance, short term insurance and corporate, investment and retail banking as well as African operations. The role’s main focus is providing advisory support by analyzing complex structures, products and assisting with SARS queries and audits. Need to support business with new developments, general VAT compliance and conducting reviews of existing products and systems with an aim to ensure efficiency and overall compliance with VAT controls.

Job Description
Accountability: VAT Advisory

• Assist the Head of Indirect Tax / Head of Indirect Tax Advisory with all advisory queries from finance, business and product control as well as attending to all new product approvals, structured trade reviews and specific Indirect Tax related issues.
• Attendance of internal tax committee meetings to provide feedback on VAT projects, risks and savings;
• Drafting internal memorandums, opinions and reports to internal stakeholders in respect to VAT advice sought;
• Liaising with external counsel on complex VAT issues and implementation of advice obtained;
• Working with income tax and employee’s tax colleagues in the broader tax team on ad hoc projects to provide VAT advice and guidance on possible optimal structures from a VAT perspective;
• Interpretation of, and advising on relevant VAT legislation in other African and global jurisdictions in which Absa operates;
• Keeping abreast of VAT rulings, judgments, opinions, interpretation notes or views that may impact the Absa Group;
• Active involvement with Industry/forums and provide input where required;
• Assisting with general customs issues, including customs VAT queries;
• Identifying and actively pursuing VAT saving opportunities within the bank and other group subsidiaries;
• Preparing risk reports and other forms of input into the overall risk reporting framework.

Accountability: Tax Compliance Oversight

• Review VAT calculations, returns and assist with return submissions to SARS for subsidiaries;
• Conduct documentation reviews for products;
• Assist with direct attribution claims and the apportionment ratio calculations;
• Oversee and respond to queries from SARS and other revenue authorities in applicable African jurisdictions;
• Approving requests for opening of new general ledger accounts that impact VAT reporting;
• Manage objections, appeals and ADRs with SARS as well as other tax administrative processes relating to compliance.

Accountability: Ad-hoc

• Liaise with internal and external auditors and assist with queries;
• Developing and presenting training to business;
• VAT risk reporting and attendance of risk forums;
• Representation at relevant forums such as BASA;
• Management of tax law amendments and feedback/training to the tax team;
• Manage own deliverables and timelines.

Educaton And Experience Required

• B Com Accounting or Legal Qualification
• HDip, LLM or relevant tax qualifications would be beneficial
• At least 3 years of working experience in a tax specific role
• Proficient in MS Office (Word, Excel, PowerPoint and Outlook)

Competencies

• Excellent written and verbal communication skills
• Strong analytical and problem-solving mindset
• Self-starter and independent worker
• Being able to conduct research via various channels
• Coping with pressure, setbacks and change
• Solid networking and relationship building capabilities
• Collating and evaluating information/data from various sources
• Being able to perform and engage in a wider team

Knowledge And Skills

• Good working knowledge/experience of VAT accounting principles and accounting systems
• Solid understanding of the VAT Act, and attendant VAT considerations applicable to the financial services industry
• Working knowledge of other taxes such as income tax, STT, Transfer Duty as well as the Tax Administration Act
• Being able to work without supervision and display solid project management skills
• Being able to engage with persons across a wide spectrum of levels of authority or seniority – internally, externally including tax authorities

Education

• Bachelor`s Degrees and Advanced Diplomas: Taxation (Required)