Tax Manager Job Description Example
What Does a Tax Manager Do?
Tax managers are primarily responsible for estimating, analyzing, planning, and overseeing the audits of corporations.
In line with these functions, a tax manager’s job description usually consists of the following duties and responsibilities: tax auditing, maintaining tax regulations, calculating tax payments, and investigating new tax guidelines.
Other roles include identifying problems that may arise in tax dealings, forecasting tax rate, income tax filings, and reconciliation of tax accounts.
They also research and develop tax.
A tax manager may also be referred to as a tax supervisor. It is his/her responsibility to assist the senior tax manager to monitor and guide the activities of other employees working in the tax department.
He/she is liable for the corporation’s tax compliance, tax planning, accounting for profits taxes, and preparation of tax returns.
The work description of the tax manager also includes making sure that the organization comply with all necessary tax regulations, but must work to minimize tax payments for the organization and individuals.
They bring together all required authorities documents concerning taxes and provide answers to pressing tax issues, and are the point of contact for managing HMRC.
It is equally the duty of tax managers to identify and avert all tax risks. They are expected to offer professional advice to clients and businesses on tax matters.
They also prepare all annual, quarterly, and monthly tax reports, and sees to it that tax balances on the general ledger are maintained.
The manager provides accurate and reliable data to corporations and clients and equally liaises and provides useful information to other professionals, including accountants, solicitors, and financial consultants.
Being a tax manager requires some level of education and experience. A first degree in economics, finance, accounting or similar discipline is usually a good way to start the process of becoming a tax professional.
A Masters degree in finance or taxation may or may not be required. However, a working knowledge of tax systems and laws is of utmost importance.
A tax manager must be experienced on the job and must be comfortable working in a corporate environment.
He/she must be able to work under pressure and meet deadlines, especially during peak periods.
Good computer skills and proficiency in SAP, Hyperion, CorpTax and other similar applications is also very essential to be effective and efficient on the job.
A good tax manager is expected to be innovative and must continually be abreast with emerging tax laws.
Tax Manager Job Description Example
The job description example shown below highlights the major tasks, duties, and responsibilities normally carried out by tax managers:
- Perform tax audits for corporations and calculating tax payments
- Maintain tax regulations and ensure that corporations comply with them
- Carry out R and D and investigate new tax guidelines
- Identify and avert problems that may arise in tax dealings
- File income tax and reconcile tax accounts
- Monitor and coordinate the activities of workers in the tax department.
- Account for profit taxes and files for tax returns
- Work to ensure that individuals and corporations are not excessively taxed
- Offer professional advice to corporations and individuals on tax matters
- Assist the government in preparation of income tax
- Prepare periodic tax reports which may be annual, quarterly, or monthly
- Maintain tax balances on the general ledger
- Reviews tax provisions and assist corporations in tax planning
- Provide accurate and reliable tax data to corporations, individuals, and other professionals like accountants and solicitors
- Maintain good relationship with other professionals like financial managers, public accountants, and budget directors.
Preparing a Resume for the Tax Manager Position
Searching for a new tax manager job? if yes, then be aware that you will be required to send a resume to prospective employers.
To be sure you will be highly effective as a tax manager most employers will like to see the work experience section of your resume to see if you’ve actually carried out the duties and responsibilities of the position before.
If you have, you can use the sample job description provided above to easily and quickly make the section and stand a good chance of being picked by employers.
Requirements – Abilities, Skills and Knowledge – for Tax Manager Job
Below are some of the key requirements employers usually set to screen applicants vying for the job of the tax manager.
It is believed that people with such skills, abilities, and knowledge will perform better on the job than those without them.
- The first requirement for getting hired as a tax manager is being educated. Background in finance, economics or accounting is necessary. Masters in taxation or similar fields may be a plus
- Hand on experience as an employee in taxation related environment is a must. In addition, being a member of a professional taxation body like CCIM Institute and the American Institute of Certified Public Accountants. In addition, he/she must be proficient in SAP and CorpTax to enable him/her carry out his/her duties seamlessly
- He must be able to work under pressure and meet deadlines. Good communication, research and report writing skills are necessary for this role
- Good math and accounting skills are imperative in taxation. In addition, the manager must be a problem solver
- Finally, the manager must be professional and ethical in discharging his/her duties.
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Job Assessment Tests: How to Top Your Competition
As part of the hiring process, most applicants that passed the initial Resume/CV screening phase are required to pass an assessment test for the job or apprenticeship position they are applying for.
The goal of this phase is to determine if the candidate has the appropriate set of skills and qualities to excel on the job.
Find out the tests you will be needing to take for the position you are applying for; get lots of success proven Practice materials to prepare with now: Sure way to make high scores in job tests.