A tax accountant job is one of the best entry-level finance jobs in Nigeria. In this post, we will be taking a look at the job description and average salary of a tax accountant in Nigeria. Keep reading, we got it all covered.
Who Is A Tax Accountant?
A tax accountant is a specialist whose job is to assist individuals and corporations in properly filing their taxes while adhering to the law to assure the highest possible tax return. They are responsible for gathering customer forms and looking for prospective credits that can be used for costs like school investments or startup costs for expanding enterprises.
A tax accountant’s responsibility is to ensure that their clients’ taxes are prepared and submitted correctly. They handle complicated paperwork, including federal papers that might be onerous for some, but they also audit firm records to find any errors or missing documentation before deadlines are reached.
A tax accountant has a wide range of various responsibilities. They prepare returns, payments, or other paperwork for customers who have complicated tax situations and require assistance submitting their returns on time each year.
They come up with innovative solutions where none previously existed, such as figuring out how to save money on the law. They provide management with advice regarding the financial effects of new laws. Additionally, they organize contracted preparation work so that everyone has access. Tax accountants assist clients in adhering to local, state, and federal tax laws. To figure out their tax bills, deductions, and credits, they also collaborate with a tax preparer.
Qualities Of A Good Tax Accountant
Being a good tax accountant requires attention to detail and adherence to the letter of the law. They must have structured thinking and the ability to solve problems methodically to complete the duties they are given during their careers.
Job Brief Of A Tax Accountant
Tax accountants are being hired to prepare tax payments and returns for businesses. As a tax accountant, you must demonstrate an interest in keeping up with changes to tax laws and regulations if you want to be successful in this position. You must ensure that our business achieves strict deadlines, thus you must have excellent time management abilities as well. The duties of a tax accountant also include keeping track of tax payments and organizing them. Finally, you should be able to provide tax plans that are legal and support the financial health of our business.
Job Description Of A Tax Accountant
- Prepare tax payments
- Estimate and track tax returns
- Complete quarterly and annual tax reports
- Organize and update the company’s tax database
- Recommend tax strategies that align with business goals
- Prepare necessary paperwork for tax payments and returns
- Share financial data with the accounting department
- Identify tax savings and suggest ways to increase profits
- Follow industry trends and track changes related to taxes
- Liaise with internal and external auditors
- Forecast tax predictions to senior managers
Requirements And Skills Needed For A Tax Accountant Job
- Proven work experience as a Tax Accountant, Tax Analyst, or Tax Preparer
- Knowledge of accounting and bookkeeping procedures
- Familiarity with accounting software packages
- Computer literacy (MS Excel in particular)
- Excellent analytical and time management skills
- Strong numeracy skills
- Keen attention to detail
- BSc degree in Accounting, Finance, or relevant subject; industry certification (e.g. CMA or CPA) is preferred
Average Salary Of A Tax Accountant In Nigeria
Based on salary estimates of 3 people who work as tax accountants, we can boldly tell you that a tax accountant’s average salary in Nigeria is 81, 000 Naira. However, you could earn way above 81,000 Naira depending on years of experience, professional certifications, and the type of company you work for.
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