Tax Officer

Tax Officer at First Bank of Nigeria Limited

First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. The bank has a vast network of over 750 branches and more than 10 million customer accounts. FirstBank provides a comprehensive range of retail and corporate financial services and has an international presence through its subsidiaries in the UK, DRC, Ghana, Gambia, Guinea, Sierra-Leone, and Senegal, as well as representative offices in Johannesburg, Beijing, and Abu Dhabi.

Job Description:

The Tax Officer at FirstBank will be responsible for ensuring compliance with tax regulations, handling tax remittances, preparing tax clearance certificates, and managing tax-related audits and inquiries. The role requires a thorough understanding of tax laws and regulations to mitigate risks and avoid penalties.

Key Duties & Responsibilities:

1. Tax Remittances:

   • Remit monthly withholding tax on contracts for the bank.
   • Review the remittance of internally generated taxes such as VAT, WHT, and PAYE by branches and head office departments, ensuring compliance with procedures.

2. Tax Compliance:

   • Ensure timely preparation of tax clearance certificates for both staff and the bank.
   • Avoid penalties from FIRS due to non-rendition or under-remittance of taxes.
   • Mitigate risks of sanctions or penalties for late rendition or payment of income taxes.

3. Tax Filing and Audits:

   • Participate in the review, computation, filing, and remittance of company income tax returns.
   • Ensure timely filing of Income Tax Self-Assessment for the bank.
   • Handle inquiries on tax matters from various tax authorities and staff.
   • Participate in state tax audits and FIRS audits.
   • Conduct tests for the adequacy of taxes deducted on transactions.

4. General Responsibilities:

   • Review responses to tax inquiries.
   • Maintain a high level of accuracy and compliance in tax-related matters to avoid reputational damage to the bank.

Job Requirements:

Educational Qualifications:

• Minimum Education: B.Tech, ACA (Associate Chartered Accountant)
• Proficiency in Microsoft Word and Microsoft Excel is required.

Experience:

• Minimum experience: 2 years in a relevant role.
• Experience in a banking environment and with specific tax responsibilities is preferred.

Knowledge:

• Professional accounting qualification such as ACCA, ACA, CPA, or its equivalent.
• At least six years of post-qualification experience with specific banking experience.
• Broad understanding of banking practices.
• Sound knowledge of Generally Accepted Accounting Principles (GAAP) and IFRS Accounting Policies.

Skills and Competencies:

• Interpersonal and Communication Skills: Ability to communicate effectively with internal and external stakeholders.
• Attention to Detail: High accuracy and strong analytical capabilities.
• Computer Literacy: High proficiency in computer usage, particularly in financial and tax-related software.
• Analytical Skills: Strong ability to analyze complex tax data and ensure compliance with regulations.