Zakat & Tax Lead

Position Overview

We are seeking a highly motivated and experienced Zakat & Tax Lead to join our dynamic finance team. In this pivotal role, you will be responsible for overseeing all Zakat and tax compliance activities, ensuring full adherence to the regulations set forth by the Zakat, Tax and Customs Authority (ZATCA). Your expertise will be instrumental in managing the preparation, review, and timely submission of tax returns, handling tax audits, and providing strategic tax advisory support to the organization. Additionally, you will identify opportunities to optimize tax processes while maintaining strict regulatory compliance.

As the primary liaison between our organization and tax authorities, you will play a critical role in managing tax and Zakat audits, resolving discrepancies, and fostering a clear understanding of tax obligations across all business functions. This position is essential to safeguarding our financial integrity, ensuring regulatory compliance, and mitigating tax-related risks.

Key Responsibilities

• Tax Audit Management: Oversee tax audits conducted by the General Authority of Zakat and Tax (GAZT), ensuring all processes are handled efficiently and in compliance with regulatory requirements.
• Financial Closure Activities: Lead monthly, quarterly, and yearly financial closure activities to ensure accurate and timely reporting.
• Zakat and Tax Reporting:
  • Monitor Zakat and tax accrual accounts on a monthly basis to ensure accurate provisioning.
  • Review monthly withholding tax and Value-Added Tax (VAT) reports to maintain compliance.
  • File tax returns promptly to avoid penalties and ensure adherence to deadlines.
  • Stay updated with evolving tax, Zakat, and VAT laws by regularly reviewing the ZATCA website.
  • Respond to all queries from tax authorities in a timely and professional manner.
  • Review draft submission returns before finalizing and submitting them to ZATCA.
• Stakeholder Collaboration: Establish robust reporting mechanisms with finance stakeholders to ensure corrective actions are implemented promptly.
• Compliance Tracking: Maintain a register of non-compliant suppliers and customers to follow up on outstanding issues and ensure remediation.
• Policy Adherence: Follow all relevant functional policies, processes, standard operating procedures, and instructions to ensure consistent and controlled execution of duties.
• Reporting and Documentation: Prepare accurate and timely functional deliverables and reports to meet corporate and functional requirements, policies, and standards.

Qualifications and Experience

• Education: Bachelor’s degree in Finance, Accounting, or a related field.
• Experience: Minimum of five years of hands-on experience in Zakat and taxation, with a proven track record in managing tax compliance and audits.
• Direct Engagement with Authorities: Experience in dealing directly with ZATCA audits and assessments.
• Industry Preference: Prior experience in real estate, construction, or large corporate organizations is highly desirable.
• Technical Proficiency: Strong working knowledge of Enterprise Resource Planning (ERP) systems, such as Oracle Fusion or SAP.