“Tax Analyst Job Description”

Tax Analyst Job Description

What is a Tax Analyst?

A Tax Analyst is responsible for analysing and providing commentary and solutions on different taxation issues. The Analyst utilises tax information to create and implement strategies that keep a company competitive in its industry. They also review and interpret tax regulations and legislation, recommend specific courses of action, and recommend how to minimize tax liability.

Tax Analyst Responsibilities Include:

• Developing tax compliance policies and procedures.
• Analyzing the impact of new or potential tax legislation.
• Identifying tax planning and savings opportunities.
• Preparing and submitting required tax documentation, filings, and returns.
• Explaining discrepancies on tax returns to governmental examiners or representatives.
• Providing guidance on the preparation of monthly, quarterly, and annual reports.
• Researching topics related to tax implications and regulations.
• Developing strategies for optimizing pricing structures to minimize tax liabilities.
• Responding to enquiries from internal and external customers.
• Identifying potential risks and making suggestions on how to mitigate them.

Job Brief

• Job Type: Regular – Full time
• Experience: Mid or Senior Level
• Education: Bachelor’s degree in accounting or similar field
• Skill requirements: Professional certification such as CPA, significant knowledge of tax regulations, high level of financial acumen
• Location: The tax analyst may work virtually or in an office setting

Responsibilities

• Conduct research and analyse tax implications of specific business decisions.
• Monitor changes in relevant legislation, regulations, and rulings.
• Assess current and future tax implications for the business.
• Identify potential problems and provide solutions to effectively address them.
• Provide support to tax accountants, and other accounting team members.
• Assist in preparing documentation for external and internal audits.
• Document processes and tax procedures.
• Advise management on the impact of new laws and regulations.
• Examine financial and tax records to ensure compliance with regulations.
• Develop strategies for minimizing tax liabilities.
• Prepare financial statements, pitches, and other documents related to taxation.

Requirements and Skills

• Bachelor’s degree in accounting, finance, or related field.
• At least 5 years of experience in a tax analyst, accounting, or financial role.
• Certified Public Accountant (CPA) or equivalent professional certification.
• Strong knowledge of tax regulations and experience in tax consulting.
• Excellent verbal and written communication skills.
• Analytical and problem-solving abilities.
• Attention to detail and accuracy.
• Time management and organizational skills.
• Proficiency in MS Office and taxation software.