Terumo Medical Corporation · 3 months ago
Sr Manager, Indirect Tax
Somerset, NJ
Full-time
Hybrid
Senior Level, Lead/Staff
10+ years expTerumo is a company committed to patients, and they are seeking a Senior Manager-Indirect Tax to oversee the preparation of various tax returns and manage internal processes for Indirect Tax audits. The role involves collaborating with subsidiary accounting teams and implementing solutions in SAP for efficient tax compliance management.
HardwareHealth CareHealth DiagnosticsIndustrial ManufacturingManufacturingMedicalMedical Device
Responsibilities
Lead and supervise the preparation and review of various Indirect Tax (IDT) returns, including State & Local Sales & Use Tax (SUT), Canadian & Local VAT (CAD VAT), Abandoned Unclaimed Property (AUP), Business Registration & Licenses, Personal Property Tax (PPT), and Real Property Tax (RPT)
Collaborate with all operating companies to ensure accurate filing jurisdictions (Nexus) are identified and maintained
Collaborate with product managers to gain insights into current and future products, facilitating thorough research and maintenance of taxability matrices, and assigning material group numbers accordingly
Engage directly with Accounts Receivable (A/R), Accounts Payable (A/P), and Business Unit Controllers to ascertain the correct tax status of customer purchases, evaluate the taxability of company purchases, and handle other direct marketing products/samples tax-related issues
Manage the process for maintaining and updating jurisdictional exemption certificates in the OneSource Tax Certificate Manager to ensure ongoing compliance with regulatory requirements
Ensure strict adherence to policies, standards, and procedures to maintain consistency and compliance with tax laws and regulations
Assist the SAP Center of Excellence (COE) and Indirect Tax team in monitoring, testing, and other associated tasks concerning "SAP Finance and Taxation processes" to ensure effective control over changes necessary for compliance or legal requirements
Support the SAP COE in testing and validating efforts linked to the implementation of new SAP entities, maintenance of taxability product matrices, monitoring, and implementing tax rate changes, as well as testing these changes in the system as needed
Address User Help Desk inquiries concerning system taxability for Terumo products and handle customer complaints related to taxability issues promptly and efficiently
Offer functional advisory support for ad hoc tax reporting and system automation compliance initiatives in TAH subsidiaries, aiding managerial decision-making processes, including VAT tax and other local indirect tax matters
Provide assistance in SAP Integration, encompassing both Input and Output Tax integration with ONESOURCE Indirect Tax Determination Integration
Take responsibility for documenting and maintaining procedures related to Indirect Tax Determination, ensuring clarity and consistency in processes across the organization
Assume leadership in Indirect Tax (IDT) matters to guarantee compliance, encompassing:
Conducting Nexus Research to determine tax obligations in various jurisdictions
Managing the Product Taxability Matrix and assigning material groups accordingly
Overseeing the Purchase Taxability Matrix and assigning commodity codes as necessary
Maintaining the OneSource Goods Movement Module to accurately calculate Sales and Use Tax (SUT) on inventory movements related to Research and Development (R&D), samples, and promotional goods
Review and uphold documentation to succinctly summarize research findings, document positions taken, and record decisions made for future reference and compliance purposes
Lead the management of jurisdictional audits, ensuring comprehensive coverage and adherence to regulatory requirements
Vigorously defend the company's position during audits, employing strategic approaches to protect against potential liabilities
Initiate and oversee reverse audits, proactively identifying and rectifying any potential issues or discrepancies
Maintain meticulous documentation throughout the audit process, ensuring thorough records are available for reference and compliance purposes
Collaborate with all operating companies to develop comprehensive written procedures and best practices for the appropriate management of various taxes, including Sales & Use Taxes, Abandoned Unclaimed Property Taxes, Canadian VAT, Personal Property Taxes, and other applicable tax types
Partner with the internal audit team to establish robust internal control documentation and recommend testing protocols to ensure adherence to regulatory requirements and mitigate potential risks
Keep the Senior Tax Director apprised of all Indirect Tax (IDT) exposures and proactively identify opportunities for tax savings
Serve as the primary point of contact for customers regarding Sales and Use Tax (SUT) refund claims and address any other customer-related issues promptly and effectively
Take responsibility for managing and nurturing the professional growth of staff members within the tax department
Perform other job-related duties as assigned
Qualification
Required
Bachelor's in Finance or Accounting required
Minimum of 10 years of managerial and accounting experience including minimum 3 years tax engine maintenance required
Leadership capabilities to effectively manage, train, and develop a team within the indirect tax function
Exceptional written and oral communication skills to articulate complex tax concepts and strategies
Strong interpersonal skills to collaborate with accounting managers and staff across Group Companies, fostering cooperation and alignment
Extensive expertise in Indirect Tax (IDT) to accurately identify tax exposures and implement procedures to minimize the company's IDT burden in accordance with relevant laws and regulations
Proven ability to multitask efficiently in a fast-paced environment, prioritizing tasks effectively to meet deadlines and objectives
Capacity to work independently, taking ownership of tasks and projects to drive them to completion
Proficiency in engaging with external tax consultants and advisors, effectively leveraging their expertise to support tax compliance and strategic initiatives
Willingness and ability to work overtime when necessary to complete special projects, audits, and compliance activities, ensuring thoroughness and accuracy
Extensive knowledge of SAP S4HANA, Ariba, and ERP Finance and Controlling processes, particularly in relation to taxation
Administrator-level proficiency with OneSource IDT Global Tax Software is required
Proficiency with tax research software such as BNA and CCH is essential
Advanced skills in Microsoft Excel, Word, PowerPoint, and Outlook
Ability to establish relationships and work effectively in a matrix organization structure
Preferred
Master's in Taxation
CPA
Strong preference for a mix of experience from Big 4 firms, corporate environments, and the medical products industry
Company
Terumo Medical Corporation
Our Promise At Terumo, everything starts with our unwavering commitment to patients.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Shahnawaz Khan
CTO & Head of IT
Michael J M.
Sr. VP, Medcal Affairs, Chief Medical Officer
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