Job Description
Direct Tax Manager(
Job Number:
1501394)
Description
COMPANY OVERVIEW
Mondelēz
India Foods Ltd. (Formerly Cadbury India Ltd) is a part of Mondelēz
International, Inc. (NASDAQ: MDLZ) family of companies, which comprises
the global snacking and food brands of the former Kraft Foods Inc.
following the
spin-off of its North American grocery operations in
October 2012. Kraft Foods acquired Cadbury Plc in 2010. The combination
of Kraft Foods and Cadbury created a global powerhouse in snacks,
confectionery and convenient meals. Kraft Foods had two very different
portfolios which would benefit from being run separately. Hence Kraft
Foods split in to two companies on October 1, 2012, with focused
portfolios:
Mondelēz International: A global snacking business
Kraft Foods: A North American grocery and beverage business
Our Belief is “The power of big.and small”
We are a company that recognizes the power of big but we also respect the importance of small. Our belief is central to our unique strengths, core to our untapped potential, and crucial to our competitive advantage. We
have the scale and resources of a $36 billion global powerhouse but
with the speed, creativity and agility of a startup company. We celebrate the power of big
in our strategy globe with ideas like power brands, global innovation
platforms, and being open and inclusive. But we also embrace the power of small
by fostering an entrepreneurial spirit, acting like owners and keeping
it simple. It is the promise of what you can expect from working at MDLZ
as well as what will be expected from you.
With annual revenues of approximately $36 billion, Mondelēz International is the world’s largest maker of chocolate, biscuits and candy, and the second-largest maker of gum.
Our 15 global power brands that drive 70% of our growth include:
o Biscuits: Oreo, TUC, Club Social, Chips Ahoy!, belVita, Barni
o Gum and Candy: Trident, Halls, Chiclets, Cadbury Éclairs, Stride
o Chocolate: Cadbury Dairy Milk, Milka, Lacta, Toblerone
Mondelēz India Foods Ltd is
a leading global confectionery & snacks company. It began its
operations in 1948 by importing chocolates. After 60+ years of
existence, it today has six company-owned manufacturing facilities at
Thane, Induri (Pune) and Malanpur (Gwalior), Bangalore, Baddi (Himachal
Pradesh) , Hyderabad and 4 sales offices (New Delhi, Mumbai, Kolkata and Chennai). The corporate office is in Mumbai. (New facility at Sri City, AP?)
We operate in five categories in India – Chocolate, Confectionery, Beverages, Biscuits, Gum and Candy and market 11 Power Brands
which include Bournvita, Dairy Milk, Halls, Gems, 5Star, Choclairs,
Perk, Celebrations, Bournville, Tang & Oreo. Mondelez India Foods
Ltd dominates the chocolate market in India with approximately 70% share
of the market.
In
1965 Cadbury introduced Cocoa to the Indian soil, pioneering cocoa
cultivation in the country. For over two decades, we have partnered with
the agricultural universities in Kerala and Tamil Nadu on cocoa
research for producing hybridized seedlings for high yield. The program
reaches out to a community of 100000 existing Cocoa farmers and adding
7500 new farmers every year. It is hardly surprising then, that the
Cocoa tree is still called the Cadbury tree! The Cocoa Life program
marks a perfect coming together of our business and sustainability
goals, providing us an opportunity to achieve self-sufficiency in the
production and procurement of cocoa beans while making a meaningful and
highly impactful difference in the community.
PURPOSE OF THE ROLE / FUNCTIONAL CONTEXT:
Ø To ensure compliance of statutory requirements relating to Direct Tax including litigations
Ø Strategic direct tax management ensuring availment of eligible tax benefits and mitigating tax risks
Ø To advise for withholding tax applicable with reference to foreign remittances and ensure all related compliance requirements
Ø To
ensure timely and correct regional reporting, including submission of
Tax Packs, Tax Review Templates, True up templates, Uncertain Tax
Positions (UTP), ETR forecasts, monthly current tax and deferred tax
provision working, etc.
Ø To constantly improve operating efficiencies and make Tax best in class
JOB RESPONSIBILITIES:
Ø To
ensure timely filing of Corporate Tax returns, submission, appeals at
different levels of litigation etc. in respect of Direct Tax
Ø Overall
in charge of Tax audit, submission tax schedules, transfer pricing
certification, Transfer Pricing Study for all Group entities such as
MIFL, IFL, KJS and all foreign affiliates for which direct tax
compliance needs to be done in India.
Ø Appearing
with/without consultants for Transfer Pricing Assessments and Corporate
Tax Assessments and getting assessment completed with least possible
disallowance.
Ø Detailed discussion on firming up approach with Tax Head and consultants before approaching for assessment hearings.
Ø Working
on preparation of sound arguments and detailed documentation with
Business Teams and other finance teams to minimize/counter allegations
of Tax authorities on tax disallowances, transfer pricing disallowances,
etc.
Ø Managing any queries, inquiry etc. by Direct Tax authorities on the company
Ø To drive improvement areas based on the experience of litigation with tax authorities
Ø To maintain contingent liability status and tax schedules for direct tax
Ø Group
Tax reporting compliance (To ensure timely and correct regional
reporting, including submission of Tax Packs, Tax Review Templates, True
up templates, UTP, ETR forecasts, etc.)
Ø To maintain comprehensive database of each level in Direct Tax Litigations
Ø Timely
and accurate advice on applicability of withholding tax for foreign
remittances and domestic transactions to business and affiliates,
Regional Tax
Ø Timely filing of TDS returns in respect of foreign remittances
Ø Working on any new projects with respect to Direct tax implication
Ø New Direct Tax Code implementation in Mondelez India Foods Limited/other entities– GAAR provisions.
Ø Manage new initiatives including shareholding pattern, AAR filing, APA, etc.
Ø Advising on new changes in Direct Taxes to the company including quantification of tax impact.
Ø Computation of monthly tax (current tax & deferred tax).
Ø Monthly Tax GL reconciliation & proper provisioning of current and deferred tax.
Ø Manage tax assessments
REPORTING STRUCTURE
Financial Controller à Head Taxation à Direct Tax Manager
KEY RELATIONSHIPS
(a) Internal
· Financial Planning and Analysis
· Corporate Accounting
· Treasury
· Factory Finance Managers, Branch Commercial Managers
(b) External
· Statutory Auditors (PWC)
· Tax Auditors (JNR, MLB)
· Tax Consultants (EY, KPMG)
· Direct Tax Authorities
Qualifications
Ø CA of 5 to 7 years experience (depending on quality of experience) with passion to develop in the field of taxation.
Technical / Functional skills:
Ø Expert understanding of direct tax and transfer pricing
Behavioral competencies:
Ø Business orientation
Ø Excellent level of communication, both written & oral
Ø Be self-driven with a willingness to challenge status quo
Ø Maturity to deal with diverse objectives and people
Ø Hard working and willing to do regional reporting
Ø Honest, straight forward but still a good team player
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