Job ID 288254BR
It takes a dream to create a successful business idea....It takes people to make dreams a reality.
Working at the IKEA Group means that you are part of an inspiring, fun and fast-paced environment. We’re the world’s largest home furnishing retailer, with 155,000 co-workers and operations in 43 countries, but we value working in a non-bureaucratic way. Here you can always be yourself. In fact, we actively encourage it! At IKEA, we respect each other, our differences and are open to everyone making a contribution. So no matter where you work in the world, you’ll most likely rub shoulders with a diverse group of people – with different backgrounds, special skills and a quirky sense of humour.
We offer exceptional career and learning possibilities at IKEA. Our co-workers are encouraged to try different roles, and many change between functions and countries several times in their careers. You can design your own career path according to your development plan and future goals. We believe in every co-worker’s ability to develop. Because as you grow, IKEA grows too. To start growing with IKEA, take a look at our different roles and available jobs.
We are currently looking for a Tax Accountant to join our IKEA India team in Bangalore.
PURPOSE OF FUNCTION
Group Corporate Finance, Tax & Treasury is responsible for supporting IKEA Group companies with specialist knowledge and solutions in the areas of Corporate Finance, Insurance, Treasury, and Tax. Our main responsibilities are:
· Optimize the IKEA Group capital structure, capital flows, mergers and acquisitions
· Invest in renewable energy and resource independence
· Arrange global insurance programmes
· Manage the IKEA Group overall tax position and a tax control framework
· Define Treasury related principles
· Manage our financial assets and relations with financial institutions
The tax function is responsible for the overall tax position of the IKEA Group and we have the mandate to implement, maintain and enforce a tax control framework, including transfer pricing throughout the IKEA Group. Group Tax consists of a Direct Tax and Indirect Tax team
OVERVIEW OF THE ROLE
Indirect tax = 75% to 90%
Direct Tax = 10% to 25%
Your role will involve but not be restricted to:
· Calculation and deposit of taxes (GST, TDS etc) for various states and filing of returns accurately and in time after checking output and input taxes
· Preparation of Purchase and sales registers required for filing of returns and audits
· Arranging Road permits etc required for inter-state movements of goods
· Issuance of ISD invoice and compliance with ISD provisions, compliance with Annual audit procedures, filing the report and schedules with tax authorities
· Calculation and deposit of GST under reverse charge, ensuring accuracy of GST TDS provisions.
· Ensuring tax invoices, receipt vouchers, refund vouchers, payment vouchers and other documents required under GST are issued accurately and in time where applicable
· Working with finance team and vendors in reconciling input credit mismatch. Coordinating and follow up to ensure credits flow is maximized
· Checking and ensuring that only eligible input credit is taken in GST returns and reconciling it with books to reverse the ineligible credits
· Calculation of state-wise proportionate ineligible input credits pertaining to exempt supplies and inputs meant for non-business purposes and compliance with credit procedures for input tax credit
· Assistance is designing SoPs, training manuals and preparation for rollout of GST in organization
· Assist tax manager with operational requirements, ensuring compliance and maximize credit flows
· Preparation of Tax schedules and reconciliation, ensuring that tax returns are tallied with books, dealing with statutory and tax auditors
· Reconciliation of revenue and expenses as per books with taxes (VAT/CST /GST / Entry tax/TDS etc) paid and disclosed in returns as well as disclosures made in audited financial statements
· Dealing with all tax audits and assessment, departmental audits, replies to various queries and notices issued by the department
· Preparation of Input credit register and reconciliation with books.
· Posting tax payment entries and other tax related entries in books to reconcile it with tax returns.
· Assistance in preparation of transfer pricing schedules and related work
· Assist Country Tax Manager in any other Tax work.
JOB SPECIFIC EXPERIENCE & SKILLED REQUIRED
· B Com and Chartered Accountant with 3-4 years of experience
· Experience in VAT and CST for Retail/FMCG Company
· Experience in handling Tax audits / assessments
· Working knowledge of direct tax matters and compliances.
· Ability to work under pressure and lot of ambiguity
· Communicate clearly and confidently in English
· Proficient in MS Office skills
· Excel skills, ability to work with lookups and pivot tables
· Experience in multicultural and multinational organization
ESSENTIALS FOR THE ROLE
· Strong technical knowledge of subject
· Good practical understanding of Indirect tax laws and GST in India
· Excellent in MS Excel and other spreadsheet functionalities
· Ability to work in team and set priorities for own self
· Show the potential to apply tactical and operational thinking.
· Experience of working in a changing and often ambiguous environment.
· Ability to inspire and engage others.
· Ability to reflect and find value and ideas in collaborating with others.
· Ability to work in a matrix organization.
· Understand the IKEA organisational structure and how Logistics works in IKEA retailing.
· Knowledge of the IKEA Concept description manual, including the IKEA vision and business idea, the IKEA culture and values, the IKEA diamond and how it creates our business advantage.