Director, Taxation APAC (Hong Kong/ Singapore / Sydney)
Director, Taxation APAC (Hong Kong/ Singapore / Sydney)
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Job Description
Were building a relationship-oriented bank for the modern world. We need talented passionate professionals who are dedicated to doing whats right for our clients.
At CIBC we embrace your strengths and your ambitions so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC please visit
BUSINESS UNIT DESCRIPITION
CIBC the Canadian Imperial Bank of Commerce is a leading Canadian-based financial institution with approximately 49500 employees worldwide serving over 13 million clients and generating annual revenue exceeding $25 billion. Within CIBC the Wholesale Banking arm provides a wide range of credit capital markets investment banking and research products and services to government institutional corporate and retail clients globally. Our employees work in highly disciplined cross-functional teams to leverage industry knowledge and deliver innovative capital solutions and advisory expertise across a wide range of sectors.
The Taxation Group is responsible for providing tax advisory and planning services in support of transactions products and strategic business initiatives as well as tax compliance services for the CIBC group of companies worldwide. The UK Europe and Asia Pacific Taxation team will play a critical role in supporting the rapid growth of CIBCs operations in the Asia-Pacific region ensuring compliance with local tax regulations mitigating risks and providing strategic tax advisory services.
JOB PURPOSE
The Tax Director based in APAC will manage tax compliance and assist in providing advisory support across Japan Singapore Australia Hong Kong and mainland China. This role is essential to address the increasing complexities of tax regulations; compliance demands and mitigate risks in the Asia Pacific (APAC) region.
The role will also support CIBCs strategic growth initiatives in APAC including business expansion and cross-border transactions while ensuring adherence to local tax laws and regulations.
- Effectively help manage tax compliance and related issues for CIBC APAC with day-to-day responsibility for Tax Compliance matters across Asia Pacific.
- Assist with providing advice and support to wholesale capital markets business on live multi branch business opportunities in APAC and controlling tax risk via trading documentation. This will be in conjunction with Tax colleagues in the UK and Toronto.
- Assist with provided support on CIBC APAC cross-border lending transactions.
KEY ACCOUNTABILITIES
- Oversight and management of the taxation compliance functions across APAC in conjunction with the UK Tax Team and external advisers including
- Australian consolidated Company Group and Australian Branch Corporation tax computation and returns including international dealings schedules
- Calculation and management of monthly Australian Corporation tax instalment payments
- Prepare monthly Australian BAS returns with instalment payments
- Review Australian FBT returns prepared by Finance colleagues and submission via external provider
- Australian regulatory returns: Annual investment income report New South Wales Insurance Premium Tax reporting
- Complete Singaporean GST returns and ensures that CIBC continues to meet the Singaporean Tax Authorities requirements of the GST Assisted Compliance Assurance Programme (ACAP)
- Singapore Branch Corporation tax computation and return
- Japanese Branch Japanese and Barbadian Corporation tax computation and Return
- Japanese consumption tax returns
- Tax aspects of Australia Singapore Japan annual audits and reporting for statutory accounts
- Hong Kong Branch Corporation tax computation and returns including mainland China rep office inputs with emphasis on the CATA AOA calculation tier two tax rate election
- Transfer pricing policies and requirements across APAC including ever increasing transfer pricing documentation requirements to accompany Corporation Tax Returns and local tax transfer pricing files
- Ensure APAC Corporation Tax and Indirect Tax liabilities are settled within statutory deadlines
- Assist with delivering on APAC month end tax reporting requirements
- Ensure internal tax controls are operated effectively via robust governance frameworks to mitigate tax risks.
- Assist with strategic tax advisory for business expansion and cross-border transactions in APAC.
- Act as the primary point of contact on the ground for business stakeholders in the APAC region. Assist with maintaining a good relationship with the APAC tax authorities. Assist with advising on the tax implications of new products services and business initiatives for APAC operations.
- Support the development and implementation of internal governance tax APAC policies and procedures.
- Ensure compliance with OECD/G20 BEPS 2.0 measures including Pillar 2 requirements for APAC region.
- Minimize errors in tax filings and reporting to avoid penalties and scrutiny from APAC tax authorities.
- Partner with the UK and Toronto Tax Teams to align global tax strategies and ensure consistency in compliance efforts.
- Collaborate with internal stakeholders including APAC Legal Finance and Operations to address tax-related matters.
- Ensure that roles responsibilities and accountabilities as regards taxation matters are defined and understood with revisions as and when appropriate to reflect changes in the needs of the APAC businesses regulators and legislation.
- Support the development and implementation of internal governance tax APAC policies and procedures.
- Provide training and guidance to non-tax specialists in APAC to enhance their understanding of tax regulations.
CROSS-FUNCTIONAL RELATIONSHIPS
Support the wholesale bank; Capital Markets Corporate Banking & Investment Banking as required. Assist Line Manager with APAC business management operations trading documentation and technology on initiatives. Partner and collaborate with APAC Legal on litigation as necessary.
KNOWLEDGE AND SKILLS
- Australian CA and/or Australian CTA with 5 or more years of industry tax experience or legally qualified with prior experience in accounting finance or related field.
- Sound technical taxation and corporate planning knowledge and sound commercial sense.
- In-depth technical knowledge of Australian and Singaporean tax laws and regulations in particular direct and indirect tax aspects of banking and financial services including GST in Singapore thin capitalization and anti-hybrid rules in Australia.
- Management of tax planning and compliance issues with a proven track record in managing cross-border compliance for multinational organizations
- Knowledge of Hong Kong and Japanese tax laws and regulations.
- An understanding of equivalent laws directives and regulations impacting the Banks clients and operations in APAC and our regulators in order to effectively assist with policies and procedures for APAC.
- Knowledge of industry and market practices products and services sufficient to analyze complex issues and developments and apply such knowledge to the Banks own practices products and services; reshaping the Banks practices and procedures in order to align with and conform to industry norms. Collegiate participation in appropriate forums aimed at anticipatory and pre-emptive action to minimize risk of unnecessary Governmental legal or regulatory scrutiny.
- Results-oriented self-motivated proactive and proven ability to work independently.
- Focused thorough and disciplined in approach.
- Decisive confident and comfortable working closely with and collaborating with business partners.
- Excellent communication skills; able to translate technical guidance into business terms and implications.
- Advanced problem-solving skills leading to practical solutions on a broad range of matters.
WORKING CONDITIONS
- This role operates under a hybrid model within a normal office environment with little exposure to adverse working conditions and working from home. The role is based in APAC to align with APAC time zones and regional business operations.
What you need to know
- CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation please contact
- You need to be legally eligible to work at the location(s) specified above and where applicable must have a valid work or study permit
Job Location
One Raffles Place Twr 2 #12-61Employment Type
RegularWeekly Hours
40Skills
Accounting Business Taxes Compliance Oversight Financial Reporting and Analysis Global Tax Local Taxes Regulatory Requirements Tax Advising Tax Compliance Taxes Tax Law Tax Planning Tax Regulations Tax Reporting Tax RiskRequired Experience:
Director
Employment Type
Full-Time
