Tax and Statutory Financial Reporting Specialist at Mars

Overview

• Responsibility for coordinating and executing the day-to-day tax activities for all business units across all segments in South Africa (Mars Multisales and Royal Canin), ensuring that all legal entities meet their tax obligations.
• Responsibility for coordinating and executing legal entity statutory financial statements for all legal entities by 30 June of following year.
• Ensure compliance and reporting deadlines are met in a timely manner with correct tax reporting and filing with relevant tax authorities for all applicable direct and indirect taxes including but not limited to corporate income tax, withholding taxes, VAT, and such other similar taxes.
• Work closely with Business Unit S&F teams to ensure smooth execution of tax activities.

What are we looking for?

• University degree/ Bachelor’s degree in Accounting or Taxation is required.
• Additional professional accounting/tax/treasury qualification is preferred.
• 6 to 8 years of experience in tax in a MNC/FMCG environment. Prior experience with a Big 4 in tax is a definite plus.
• High learning agility to learn tax legislations to preempt any business impact.
• Good knowledge of Direct and Indirect Tax as applicable.

What will be your key responsibilities?

Tax Compliance & Reporting

• Prepare and file accurate tax computations in a timely manner to comply with statutory reporting including corporate income tax, withholding tax, VAT, Customs, PAYE and other similar taxes.
• Prepare and submit internal tax reporting including GAM, FIN48, A32, and Transfer Pricing Data Collection Package for all Business Units/Legal Entities.
• Preparation of Advance Tax Computation and payment of any provisional taxes due (having tax liability during the year).
• Ensure Business Units maintain all required documentation in support of tax computations and submissions related to tax, transfer pricing, VAT, Customs and other tax matters.

Tax Controversy & Transfer Pricing

• Assisting ICTC Lead in ensuring PwC transfer pricing rule book is adhered to for any transfer pricing related matters.
• Ensure timely completion of Transfer Pricing Data Collection Package to enable Global Transfer Pricing team to prepare local file for compliance and reporting in a timely manner.
• Ensure transfer pricing documentation is prepared and maintained in a contemporaneous manner.
• Assist ICTC Lead in managing responses to queries from tax authorities (for all taxes including corporate tax, withholding tax, VAT, Customs, PAYE and other taxes), in relation to tax audits or assessments & coordinating review & submission of supporting documents & responses in line with the tax defense strategy.

Tax Planning

• Assisting ICTC Lead in determining tax planning opportunities to optimize taxes.
• Assist ICTC Lead in implementing tax planning actions and prepare robust documentation to support and defend tax planning initiatives.
• Monitor benefits arising out of tax planning measures implemented.

Managing Tax Risks

• Assisting ICTC Lead in tax risk control initiatives including annual self-assessment to identify, evaluate and mitigate tax exposure.
• Review contracts or agreements from a tax, transfer pricing, VAT and customs perspective and advise suitable tax clauses in contracts or agreements taking into account benefits under applicable tax treaties for cross border transactions.

Introduction of New Taxes

• Work with ICTC Lead in assessing their preparedness for embracing new taxes.
• Advise on impact to business on introduction of new taxes like VAT or other taxes.
• Assist businesses with implementation and compliance.

Statutory Financial Reporting Responsibilities

• Responsible for initiating and reviewing local statutory accounting adjustments for general transactions, depreciation, inventory and other financial transactions.
• Responsible to monitor and ensure up to date knowledge of local statutory accounting and reporting requirements to ensure compliance.
• Identifies and accurately maps / accounts for any adjustments to USGAAP necessary to comply with local statutory accounting requirements across all entities supported by the ICTC.
• Designs, implements and maintains processes and tools for adjusting US GAAP primary Mars books to local statutory accounting books.
• Ensures complete reconciliations of local GAAP financials with Mars GAAP financials.
• Manages the relationship with the external financial statements compilation agency and local external auditor including appointment/re-appointment of statutory auditors, negotiation of statutory audit fees and execution of engagement letters well in advance of commencement of audit
• Ensures development, alignment and execution of the audit plan
• Monitor audit related costs against the budget to ensure that these are optimized and within budget
• Ensure statutory audit fees are settled in a timely manner
• Manage local statutory audit in each legal entity with timeliness, efficiency and reporting well in advance of statutory timelines
• Acts as a single point of contact to provide full support for auditors on local financial statements audits, including coordination of information
• Documentation support for the Audit
• Work with MGS / Controllers team as required
• Responds and closes external auditors’ queries in a timely and efficient manner.
• Ensure management letter comments are addressed, responded to, and continuous improvement implemented to minimize further comments
• Filing of audited financial statements (and associated documentation) with local authorities (whether electronic, physical or both).
• Legal entity statutory financial statements compilation and managing statutory audit of financial statements.

What can you expect from Mars?

• Work with over 130,000 diverse and talented Associates, all guided by The Five Principles.
• Join a purpose driven company, where we’re striving to build the world we want tomorrow, today.
• Best-in-class learning and development support from day one, including access to our in-house Mars University.
• An industry competitive salary and benefits package, including company bonus.