Job Purpose
Assist on timely submission of tax returns to the Lesotho Revenue Authority, monthly, quarterly and yearly. Keep proper filling of tax reports, keep financial control on all tax lines and perform reconciliation, attestations and certifications. Perform the tax duty in accordance with the standard operating procedures. Performance of tax accounting and reporting. Assist on all tax audits both internal and external. Assist the business on all tax matters and advise accordingly. Preparation of tax budget and forecast figures. Assist on implementation of the tax law changes within the systems and ensure and monitor compliance. Participate on tax health checks. Ensure timely upload of tax payments and receipts on encompass on a monthly basis. Assist on management of the tax risk.
Key Responsibilities/Accountabilities
- Prepare the monthly tax computation (Income tax, Deferred tax and VAT), together with the associated schedules
- Prepare the monthly tax Information Pack for the bank – CIB/PBB and total bank
- Prepare the monthly tax commentary for total bank and split between PBB and CIB.
- Prepare the monthly tax payments schedules and yearly tax computation for local tax authorities and submit tax returns on or before due date.
- Co-ordinate all taxes paid report and check related information reporting
- Monitor the payments of VAT when goods are imported into the country and ensure venders adhere to required process.
- Assist on compliance with FATCA requirements.
- Completion of monthly encompass for use by both group and external auditors.
- Ensure and report all tax risk per the bank’s risk framework
- Monitor and pass monthly correction journals for any mis posted items into the tax lines.
- Prepare monthly tax reconciliations, follow up on long outstanding items and complete the relevant attestations on all tax lines
- Keep an up to date tax risk register for reporting to proper stakeholders.
- Perform quarterly tax sensitive accounts review to ensure all tax accounts are fully substantiated.
- Ensure and be familiar with all tax types policies and the standard operating procedure.
- Liaise with internal and external auditors all tax related matters.
- Keep proper records and filling of all tax payments for retention with the tax law.
- Regular monitoring of all taxes at branch level and that branches collect in accordance with the law e.g. stamp duties or withholding taxes.
- Assist business units on all tax related matters of the bank and advise accordingly.
- Participate on new product implementation and ensure proper guidance is provides together with timely post implementation review to ensure proper compliance there on.
- Ensure proper compliance on tax advice in terms of SLA’s among Stanlib and Liberty as support services.
- Assist in liaison with external tax advisors and or legal consultants on complex tax matters.
- Assist in awareness of changes in tax law to internal stakeholders.
- Build and maintain good relationship with both internal and external stakeholders.
- Calculate the tax figures for budget, RE1 and RE2 estimates
- Monitor and provide proactively advice on adverse tax variances to business units.
Preferred Qualification and Experience
- Technician Accountant (TA) or Diploma in finance
- Other preferred qualification & Certification
- General Accountant (GA) or Degree in Accounting
- 1-2 Years Understanding and interpretation of the tax laws
- 1-2 Years Tax experience within the banking environment
Knowledge/Technical Skills/Expertise
- Banking Process and procedures
- Financial Accounting
- Financial Acumen
- Financial Analysis
- Financial & Accounting Control
- Interpreting Financial Statement
- Product Knowledge
- Tax management