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Snr Mgr - International Tax

Date: 05-Oct-2022

Location: Dubai, AE

Company: Majid Al Futtaim

Majid Al Futtaim Retail invites you to join us in our quest to create great moments for everyone, everyday! We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 40,000 team members in 15 international markets representing over 100 nationalities – all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.

Role Purpose:

The Senior Manager - International Taxation is responsible for all tax aspects and operations including tax strategy, tax management monitoring and controls, tax planning and tax optimization, tax advisory to operations & various functions at corporate. Also responsible to actively collaborate with corporate and country teams on tax inputs on merger & acquisition’s, business plans, tax assessments management, digital expansions, new markets growth and various corporate initiatives.

Shall also able to manage BEPS, transfer pricing, country-by-country reporting and related global tax compliances, efficiently managing effective tax rate (ETR), review and finalization of tax disclosures and deferred taxes, implementation of new taxes and managing uncertain tax risks positions across countries.

Shall demonstrate sound judgment and instincts in evaluating complex tax scenarios, conversant with tax best practices and shall have strong communication and influencing skills.

Role Details – Key Responsibilities and Accountabilities:

  • Stay up to date with the latest relevant tax legislative changes and support prepare the group for implementation of changes in tax regimes (such as: VAT, UAE corporate tax, transfer pricing, etc.); specifically: tax impact assessment, transaction flows analysis, trainings & advisory and systems updates and implementation support
  • Provide guidance/training to local country tax teams and review foreign provision packages, tax returns and tax disclosures in consolidated statutory financial statements
  • Initiate and execute tax optimization and tax planning opportunities
  • Ensure optimization and simplification of legal entity structure of the group from a tax and regulatory perspective
  • Keep account of tax contingencies (or potential contingencies) associated to key tax positions taken in operating countries. Identify tax risks by working together with corporate, regional and local finance and business personnel and optimize those tax risks
  • Strategically participate in tax due diligence and structuring related to new openings, mergers & acquisition and divestures. Perform tax due diligence for targets, develop tax efficient acquisition structuring and post-acquisition integration plans
  • Design and implementation of transfer pricing policies & procedures at the international head office level and support countries to ensure compliance on these aspects. Preparation and management of transfer pricing documentation and allocation workings to support internal TP framework
  • Support Parent Group and Management (from Operating Company’s perspective) in terms of compliance with tax requirements such as country-by-country reporting’s (CBCR), BEPS Pillar 1 and 2, Global Minimum Tax, Economic Substance Regulations (ESR), etc.
  • Serve as a focal point of contact within the company for tax related advice and guidance
  • Facilitate resolution of tax audit exercises within the operating jurisdiction
  • Coordinate with treasury to ensure tax-efficient cash management, including investment, redeployment and repatriation of cash between the company and its foreign affiliates
  • Conduct a tax health check of relevant business and legal entities from tax control perspective and put in place the required mitigates
  • Reconcile tax data on financial statements. Assist tax leadership with oversight of global effective tax rate (ETR) and tax provision and reconciliation of deferred taxes, tax payable and reserves accounts
  • Cultivate long-term partnerships with other tax teams within company, functional teams (finance, legal, strategy, business developments, etc.), global and regional sector teams, business units, external legal and financial service providers and countries tax and regulatory authorities
  • Perform direct tax technical research including analysis and interpretation of relevant tax laws, regulations, cases and agency guidance, and timely update relevant stakeholders as appropriate on developments
  • Review major contracts from tax perspective and participate with legal and functional teams on finalization of negotiations and dealings
  • Work with tax automation mindset. Continuously explore opportunities to improve tax controls, framework and tax reporting’s

Definition of Success

  • Independent and able to work proactively managing efficient ETR of the Company
  • Self-motivated with the ability to complete tasks efficiently, timely and accurately
  • Ability to multi-task in a time sensitive environment
  • Ability to manage, interpret, and report on highly complex tax environment, be practical oriented and able to handle often-voluminous data and multi systems environment
  • Drive tax initiatives in support of the business in achieving its strategic objectives

Other Context (if applicable):

  • Travel to operations and new markets countries will be required on time-to-time basis to support country tax & finance management and tax controls reviews and improvements
 

Functional/Technical Competencies

 

  • Excellent communication and interpersonal skills with the ability to interact effectively with internal management as well as external parties
  • Strong tax technical and knowledge of tax accounting skills across all areas of taxes
  • Strong analytical skills in researching complex tax matters in order to reach sound conclusions
  • Demonstrated management, organizational and project management skills
  • Strategic mindset with experience in managing many initiatives concurrently with a result-orientated focus and strong execution and implementation skills
  • A proactive (both in identifying issues and developing solutions), enthusiastic and team oriented individual
  • Enthusiastic and self-motivated, combined with commercial and practical acumen

Personal Characteristics and Required Background:

Minimum Qualifications/education

  • Bachelor Degree or above in Commerce / Economics / Finance/ Taxation with professional qualifications such as a CA, CPA, CTA, or other relevant to tax specialization is necessary.

Minimum experience

  • 10+ years in similar function with 5+ years in International Retail Business in Country with full spectrum of taxation

Skills

  • Excellent presentation skills and the ability to train on system usage
  • Awareness of counties laws, rules and regulations and quickly able to analyze and adapt laws changes.
  • MS Office Package (Outlook, Word, Excel, and PowerPoint) and Operating Systems such as JDE, SAP and Oracle will be value addition.
  • A good mix of Industry and Advisory firm experience is required.

Preferred Languages

  • English (Full professional proficiency - Required)
  • Arabic (Full professional proficiency – Advantageous and one of the critical need of the role. Will be given preference)