Accounting & Tax Manager, China - DFS361370 in Shenzhen at DFS

Date Posted: 11/16/2020

Job Snapshot

Job Description

The role of the Accounting & Tax Manager is to support the Finance Director, China to develop and execute division financial, tax operations and control strategy, leading to the achievement of operating income and cash flow targets as well as accounting and tax compliance for the Division. The Accounting & Tax Manager supports the day to day local financial, tax reporting and operational needs of all wholesale and retail business management teams in China. This role also acts as the local finance and tax representative/contact with Tax Bureau, Finance Bureau and local auditors and oversees the preparation of the accounting records and financial statements in accordance to China’s accounting rules & policies and ensure that local statutory reporting are performed. He/she will also be responsible for maintaining tax compliance and reporting of taxes to meet tax requirements, ensuring compliance with government laws, governing tax rules for Direct Tax, Indirect taxes and / or any other tax areas. The role is also the key contact with the Singapore accounting and Global Tax team to ensure that all the requirements of group reporting are met, with the required information provided in a timely manner.

Key Responsibilities:
Support Financial Reporting and Month End/Year End Close and Tax reporting
• Prepare division financial KPI tracking and monitoring in relation to our wholesale contract as well as the sell through to the distributor and its POS locations/e-commerce operation
• Prepare the monthly financial close with the Global Finance, Tax and Corporate Reporting teams, identify the variances to budgets/forecasts, provide detail analysis for variance, prepare tax provision workpapers and flag out issues to management in a timely manner.
• Prepare / review and submission (where appliable) of direct and indirect taxes filings and returns and communications with local tax authorities, as appropriate. Work with Global Tax team office to manage Direct tax and Indirect tax process and expedite tax payments and refunds, as appropriate.
• Work with Global Tax team to analyze and advise on tax audit-related issues and audit implications
• Participate in all contract bids and negotiations and seeks appropriate involvement of legal department
• Maintain relationships with wholesale partners, local banks, landlords, joint venture partners, and other suppliers
• Support the Finance Director China on day to day local finance, accounting and tax matters
• Preparation of year end financial statements in accordance with PRC GAAP Business Analysis and Reporting
• Prepare retail sales, wholesale margin and stock on hand reports in Power BI system for Corporate office and China management team.
• Gather stock on hand and sell through information from different doors for our wholesale partners in Shenzhen/Hainan, ensure the information to be uploaded to MCS system for merchandising and planning purpose. Perform reconciliation of the upload information to ensure accuracy and completeness of the information. Perform stock on hand and inventory cover and analyse any OOS situation. Flag to management any discrepancy in a timely manner.
• Work closely with the DFS global merchandising & Business Partnership team and partner’s operations team on a daily basis to ensure accuracy and efficiency of logistic & inventory control aspects. Other Job Functions or Accountabilities:
• Performs other reasonably related business duties as assigned by immediate supervisor and other senior management as required. Overtime and travel is necessary.
• Proficient at planning, implementation, reconciliation and reporting of all Merchant Common Systems and or other inventory control related projects.
• Provide inputs from local perspective on local transfer pricing documents and compliance, where applicable.
• Provide support to internal DFS teams for tax-related issues, where applicable.
• Perform tax research and provide interpretation and application of tax rules, where applicable.

Key Requirements:

• College or University Degree in Business or Finance
• CPA Qualified
• Progressive financial, tax & operating working experience in China
• Retail Industry, inventory management experience a plus
• Good understanding of Chinese tax laws, to ensure compliance with China Tax regulations