Senior Specialist, Taxation

Job Purpose

Develop taxation policies and procedures and facilitate the implementation of the Group taxation strategy across the ADNOC Group (HQ and Group Companies), by performing and coordinating compliance, reporting, representation, advisory and support activities at a Federal and Emirate level relating to both Value Added Tax (VAT) & Royalties and Tax, to support the realisation of tax reporting requirements and the protection of the company’s reputation.

Job Specific Accountabilities (Part 1)

Taxation Policies and Procedures

• Provide input into the Group Tax organisational structure, necessary to meet the strategic objectives of the function, and continually challenge and evolve the same.
• Develop, and manage the implementation of Tax policies and procedures across the ADNOC Group (HQ and Group Companies), to ensure compliance with relevant taxation laws and regulations.
• Draft and continuously update a comprehensive plan to mitigate the adverse impact of Tax on ADNOC's business lines, by minimising tax leakage and maximising cash flow efficiencies.
• Cascade relevant Tax information and Tax knowledge management throughout the ADNOC Group (HQ and Group Companies).
• Review and advise on current and future transfer pricing strategies, to help mitigate risk and optimise strategies for business operations.
• Implement an end-to-end tax reporting framework to ensure increased transparency and strict controls are in place for VAT reporting across the Group.
  
  

Value Added Tax (VAT)

• Create and lead the implementation of VAT policies and procedures across the ADNOC Group (HQ and Group Companies), to ensure compliance with the VAT laws as directed by the Manager, Tax Department.
• Monitor Group Companies’ compliance with VAT Policy and Procedures and escalate instances of non-compliance to the Manager, Tax Department.
• Prepare the ADNOC final Consolidated Group VAT Return for sign off by the VP Tax, before the submission to the Federal Tax Authority.
• Create VAT compliance processes and procedures to maximise efficiency, accuracy and accountability in connection with VAT returns filed with the FTA.
• Facilitate the implementation of the end-to-end VAT Reporting framework, and monitor the group's adherence to the framework.
• Review the VAT reporting package from Group Companies on a monthly/quarterly basis.
• Conduct detailed technical review and prepare monthly/quarterly VAT audit file tor each VAT Group entity.
• Maintain a logbook of inconsistencies identified, investigated and resolved, and escalate the findings and key risk areas to the business teams and CFOs where necessary, in coordination with the Manager, Tax Department.
• Monitor and assess Group Companies’ KPIs in relation to tax-related compliance, and advise on remedial action plans where required for annual reconsideration of KPIs to close any identified gaps.
• Liaise with the Federal Taxation Authority in respect of the status of the VAT returns, as well as any queries or audits.
• Identify the need for external resources tor tax advisory, tax compliance or technological needs where required.
• Execute VAT registration for new Group Companies, and manage VAT Group and de­ registration of Group Companies.
• Contribute to and prepare necessary working papers for any ongoing and future audits conducted by the Federal Tax Authority for VAT, by developing and helping to foster a collaborative relationship and formulating an internal strategy to satisfy their audit inquiries.
  
  

Job Specific Accountabilities (Part 2)

• Identify and inform the Manager, Tax Department of any system changes that need to be made to facilitate overall tax compliance at HQ and Group Company level, in accordance with internal policy and procedures.
• Optimise and maintain the VAT reporting functionality of all ERP systems within ADNOC for VAT critical aspects such as master data set up, VAT determination logic and tax code functionality.
• Identify and rectify failures in Tax critical systems and procedures that result in overpayment or underpayment of tax, that can entail the threats of penalties’ and reputational risk to ADNOC and its group.
• Request and review periodic reports providing assurance that VAT compliance is achieved by the ADNOC Group companies that are not part of the VAT Group, such as evidence of tax filings.
• Coordinate the optimisation and maintenance of the VAT reporting functionality of all ERP systems within ADNOC for VAT critical aspects such as master data set up, VAT determination logic and tax code functionality.
• Identification and rectification of failures in Tax critical systems and procedures that result in overpayment or underpayment of tax, that can entail the threats of penalties’ and reputational risk to ADNOC and its group and escalate such matters to VP, Tax
  
  

Royalties and Tax

• Manage the calculation and payment of Royalties and Tax payments to the Abu Dhabi fiscal authorities for VP, Tax review.
• Manage the submission of approved monthly statements to the Abu Dhabi fiscal authorities and active participation in discussions with the fiscal authorities of issues arising from tax submissions as directed by VP, Tax.
• Contribute to the development, implementation and continual evolvement of Royalty and Tax Framework with fiscal authorities to ensure a coherent, practical procedure for is in place for the calculation and payment of due tax.
• Manage all the tax compliance requirements by External Auditors, Internal Auditors, Advisors of SPC and other external parties, to provide assurance on ADNOC and Group’s tax compliance, in line with policies and procedures.
• Contribute to the optimisation of Royalty and Tax accounting control processes and functional structure, to optimise control and reporting processes.
• Contribute to any new key Royalties and Tax fiscal term arrangements, or amendment to existing arrangements.
• Coordinate with Treasury and Accounts Payable regarding the payment of Royalties and Tax.
• Prepare quarterly movement schedule for Royalties and Tax and perform reconciliations with the liability and expense accounts.
• Prepare the quarterly reconciliation of system generated Royalties and Tax to financial statements, and Prepare necessary Royalties and Tax adjustment calculations in terms of crude settlements, deemed purchases etc. involving changes in concessions involving international shareholders.
• Liaise with external auditors regarding year end Royalties and Tax reconciliations and adjustments.
• Provide expert Royalties and Tax advice to ADNOC HQ directorates and external stakeholders.
  
  

Job Specific Accountabilities (Part 3)

• Act as custodian for the Royalties and Tax module in SAP, and recommend any required enhancement for Royalty and tax Module in SAP. Escalate any system matters to Vice President, Tax.
  
  

Internal and External Reporting

• Lead the preparation and submission of required consolidated reports to the Department of Finance and Federal Tax Authority for the Group.
• Prepare royalty and tax statements for ADNOC, and submit approved statements to the Abu Dhabi fiscal authorities.
• Prepare the VAT compliance reports and statistics to senior management, to monitor payments and refunds and impact on ADNOC and Group cash flow.
  
  

Tax Representation

• Act as a liaison for Group Tax with the Federal Taxation Authority, International Partners and Group Companies as directed by the VP, Tax.
• Contribute to the taxation relationship between ADNOC Group and Joint Ventures, SPC and the Department of Finance Abu Dhabi as directed by the VP, Tax.
• Liaise with Ministry of Finance to request and obtain tax residency certifications, when required, on behalf of the ADNOC Group companies, in order to take advantage of Double Taxation Agreements signed by the UAE with other tax jurisdictions across the globe.
• Serve as tax representative on multidisciplinary committees such as Group Internal Audit and Risk Management regarding transactions and other business’s initiatives as per VP, Tax recommendation to GCFO.
  
  

Contribute to optimising and streamlining of customs procedures across the ADNOC Group.

• Liaise with the Ministry of Finance UAE to manage tax residency and certification related matters as required by ADNOC and Group Companies
  
  

Group Taxation Support and Advisory

• As assigned by VP Tax, act as the lead Group tax advisor on tax impact of major local and foreign investment transactions, to ensure tax risk management and adherence to tax compliance requirements.
• Provide Tax advice and expert opinion to executive management and operational business teams on any routine and non-routine matters pertaining to Tax throughout the Group.
• Provide guidelines and prepare internal memorandums for taxation related matters to specific departments or Group Companies for VP Tax review and sign off. Identify the need to seek technical guidance from the FTA, for clarification or special Advance Rulings in favour for ADNOC's business.
• Review new and existing major contracts by liaising with Group Legal and relevant business units, to ensure that any tax exposure is minimised.
• Provide advice on mergers and acquisitions and other group investment projects, to ensure that tax risks are addressed, assessed and mitigated. This involves review of any tax relevant external advisors reports, the evaluation for international tax matters, and providing any relevant technical input to their reports (for example Tax Due Diligence work).
  
  

Generic Accountabilities

Supervision

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives.
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective business objectives.
  
  

Budgets

• Provide input for preparation of the Function / Division / Department / Section budgets, assist in the implementation of the approved Budget, and work plans to deliver business objectives.
• Investigate and highlight any significant variances to support effective performance and cost control.
  
  

Policies, Systems, Processes & Procedures

• Implement approved Function/ Division/ Department/ Section policies, processes, systems, standards and procedures in order to support execution of the work programs in line with Company and International standards.
  
  

Performance Management

• Contribute to the achievement of the approved Performance Objectives for the Function/ Division / Department/ Section in line with the Company Performance framework.
  
  

Innovation and Continuous Improvement

• Design and implement new tools and techniques to improve the quality and efficiency of operational processes.
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with best industry standards in order to define intelligent solutions for issues confronting the function.
  
  

Health, Safety, Environment (HSE) and Sustainability

• Comply with relevant HSE policies, procedures, controls, applicable legislation, and sustainability guidelines in line with international standards, best practices and ADNOC Code of Practices.
  
  

Reports

• Provide inputs to prepare MIS and progress reports for Company Management.
  
  

Generic Accountabilities (continue)

Internal Communications & Working Relationships

• Manager, Tax
• Legal Governance & Compliance Unit
• Group Treasury & Risk Management Unit
• Group Procurement Unit
• Group Information Technology Unit
• Group Communication & Corporate Social Responsibility Unit
• Government Relations Section
• Internal Auditors in connection with taxation issues.
• Marketing Supply & Trading Directorate
• Any other Directorate / Unit/ Departments, as required
• ADNOC Group Companies
  
  

External Communications & Working Relationships

• External Auditors, up to partner-in-charge, in connection with taxation issues.
• Federal Tax Authority.
• Coordinate with Federal Tax Authority and all Group entities.
• Other local and international Tax Authorities, when required.
  
  

Minimum Qualification

• Bachelor’s Degree in law, Accounting or Business related subject.
  
  

Minimum Experience, Knowledge & Skills

• 10 years of experience in Value Added Tax, at either Big 4 Accounting Firms or in another relevant industry
  
  

Professional Certifications

• GCC VAT Diploma
• Other professional accreditations such as ACCA, CPA, UAECA, CFA , ADIT are an advantage
  
  

Work Condition, Physical effort & Work Environment

Physical Effort

Minimal

Work Environment

A/C environment, could be exposed to the prevailing weather conditions like heat, humidity & dust during occasional site visits.

Additional Details

Job Family / Sub Family: Finance

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