Manager, Taxation (UAE National)

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose:

The Tax Manager supports the Head of Tax in implementing the Group tax strategy and managing the tax operating model, with responsibility for accurate and timely direct and indirect tax compliance, tax accounting, reporting, controls, documentation and stakeholder coordination across the Group.

Principal Accountabilities:

Tax Strategy and Function Support

·        Support the Head of Tax in implementing the Group tax strategy and annual tax plan for the Bank, subsidiaries and associates.

·        Manage assigned direct and indirect tax activities and ensure delivery in line with approved policies, procedures and regulatory requirements.

·        Monitor tax developments and assess their operational and financial impact, escalating material matters to the Head of Tax.

·        Support tax audits, projects and transformation initiatives and maintain clear status reporting.

Corporate Tax and VAT Compliance

·        Manage the preparation, review and timely filing of Corporate Tax, VAT and other assigned tax returns, including ESR, CbCR, Zakat and withholding tax requirements, where applicable.

·        Review tax computations, reconciliations, supporting schedules and working papers to ensure completeness, accuracy and audit readiness.

·        Coordinate VAT controls, periodic returns and annual wash-up requirements for submission to the relevant authorities.

·        Maintain the tax compliance calendar, issue log and action tracker, and follow up closure of outstanding matters.

·        Review tax charge codes and tax master data and coordinate correction of identified irregularities.

Tax Policies, Procedures and Controls

·        Support the maintenance and implementation of tax policies, procedures, process maps and control documentation.

·        Assist in maintaining transfer pricing documentation and Country-by-Country Reporting records. Perform and review substantiation and attestation of tax-related balances and support appropriate general ledger set-up.

·        Identify control gaps and recommend practical improvements to strengthen tax governance, record keeping and compliance.

Tax Governance and Reporting

·        Prepare management updates on tax compliance, legislative changes, key risks, open matters and project progress for review by the Head of Tax.

·        Prepare technical accounting papers and internal memoranda on tax matters and judgments. Promote tax awareness across the Group and provide practical guidance to business and support functions.

·        Ensure reporting-period deliverables are completed on time and material concerns are escalated promptly.

Tax Advisory and Business Support

·        Provide day-to-day tax advice to business units and support functions, including review of tax clauses in contracts and legal agreements.

·        Support assessment of tax accounting and compliance implications for new products, transactions and business initiatives.

·        Coordinate with Finance, Legal, Operations and Technology teams to resolve tax matters and implement required changes.

·        Identify potential tax efficiencies and present recommendations to the Head of Tax for approval.

Audit, Authority and Adviser Coordination

·        Coordinate responses to internal and external auditors, tax authorities, regulators and external tax advisers.

·        Prepare information requests, audit files and supporting documentation and track queries through to closure.

·        Maintain professional working relationships with tax authorities, advisers and statutory auditors. Escalate significant audit findings, disputes, exposures and regulatory correspondence to the Head of Tax.

Experience & Academic Qualifications:

Chartered Accountant, qualified tax professional, or Bachelor/Master degree in Accounting, Finance, Tax or a related discipline from an accredited institution. Relevant professional tax or accounting qualification is preferred.

Minimum 5 years of relevant tax experience, preferably including Big Four or professional advisory experience followed by in-house experience.

Practical experience in UAE Corporate Tax, VAT, transfer pricing and tax accounting within a financial services or similarly regulated organization is preferred.