VP- Direct Taxation

1 day ago

Mumbai, Maharashtra, India Sumitomo Mitsui Banking Corporation (SMBC) Full time US$ 1,50,000 - US$ 2,00,000 per year

Sumitomo Mitsui Banking Corporation

Job Responsibilities

Financial Reporting

  • Assist with audits/ external reviews
  • Supervise and be responsible for preparation and submission of HO related reports.

Tax compliance

  • Help manage and mitigate overall tax risk for the Bank in India
  • Assist with direct and indirect tax compliances with local regulators / head office including tax payments, filing of returns, assessments, handling tax notices etc
  • Liaising with internal stakeholders and externally with Tax office, consultants etc
  • Responsible for managing Tax compliances with focus on Transfer pricing
  • Responsible for corporate tax and transfer pricing documentation/ submissions including handling litigations.
  • Assist with Advance Pricing Agreement compliance, renewal, negotiations etc
  • Handling of BEPS submissions/ implementation, liaison with Head office Tax team
  • Handle Tax/ transfer pricing audits, assessments, etc
  • Guide other members from team and other departments on queries related to Withholding Tax, Corporate Tax, Transfer Pricing and Advance Pricing Agreement related.
  • Advise on efficient tax planning and on new products from a tax perspective.

Indirect tax compliance

  • Assist with monthly/ annual GST returns and related payments.
  • Help liaise with Tax office for routine matters or litigations, as may be required
  • Manage and maintain efficient support from external consultants
  • Manage internal/ external queries on indirect taxes

Others

  • Build strong networking within banking fraternity and regulators
  • Participate in strategic initiatives and lead bank level projects
  • Appointments of Auditors in adherence with RBI guidelines and internal rules
  • Manage effective relationship with Head office/ regional office counterparts
  • Develop an overall view of Bank's operations  and  participate  in  overall growth/ development of Bank in India.
  • Knowledge sharing
  • Motivate, train and develop staff
  • Maintaining strong risk management culture

a) Knowledge (b) Skills (c) Experience (d) Qualifications

  1. Knowledge –Indian tax laws and accounting principles
  2. Skills – Strong Communication and analytical skills, excellent negotiation skills, project management and decision-making abilities

Strong Interpersonal skills as dependency outside team for data.

  1. Experience – 10+ years of experience, preferably in Banking/ Financial services, Foreign Banks or Big 4 Accounting firm, understanding of Bank Financial statements and products, experience of team handling and working in a cross-cultural environment, exposure to Direct taxation and international Transfer pricing.

Qualifications - CA and/or higher equivalent qualification in Accounting / Taxation

Purpose of the position

  • Incumbent is expected to provide inputs and take actions considering overall long-term growth and future of SMBC India.
  • Lead strategic initiatives, provide regular updates and inputs for management decision making
  • Responsible for managing Tax compliances with expertise in the area of Transfer pricing
  • Manage APA related compliances and negotiations, TP related queries, TP Audits, TP assessments and handling of business queries on new products/ transactions
  • Manage Head office reporting
  • Process betterments/refinements in the existing processes/ Knowledge sharing/ process backups.

Effective resource management and staff development

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