Someone asks you at a party what you do for a living. What do you say?
I am that person in the organisation who crunches numbers, identifies areas of risk, finds planning opportunities and makes sure that the government gets its due share of tax – but not a penny more!
I design tax strategies and make sure that we stay smooth with the taxman and maximise our savings. It is a glamorous role wherein my team and me get to find flaws in everyone’s plans whenever they want to do something even remotely interesting or creative with our finances. Someone’s got to keep the organisation from running afoul of the tax laws, right?
It certainly is no easy feat – between navigating the ever-changing tax regulations and finding creative ways to minimise our liabilities. I am part accountant, part lawyer, and part magician.
Talk us through a typical working day.
I start my day by going for a brisk morning walk and doing some stretching exercises. With the endorphins in place, I reach the office by 8:30 AM.
My morning ritual in the office commences by enjoying coffee with a side of news headlines and catching up on updates in the world of taxation. I then catch up on my emails, review my calendar and my task list and prioritise what I need to get done during the day.
Every morning, I typically have scheduled meetings with my various functional teams (corporate tax, indirect tax, export incentives, transfer pricing, family taxation, and others) where we discuss the pressing issues, tax strategies and developments across the organization and beyond which may have a bearing on tax.
After that, it is all about tackling the day’s adventures and keeping things on track!
What are you working on at the moment?
Currently I am working on the carve-out of certain divisions of our domestic business into a wholly owned subsidiary. The complexity of tax issues and the need for meticulous planning and execution make a carve-out a challenging and rewarding assignment.
Also, I am drawing up a framework for the deployment of generative AI solutions for reading documents, drafting responses and reports, and preparing submissions. Considering the data-rich landscape of tax, new age technologies throw up fascinating opportunities for creating incremental value.
What is the most exciting aspect of your role and what is the most stressful?
The most exciting part of my job is playing a global game of tax strategy, finding ways to turn complex regulations into opportunities for my organization.
The most stressful? It is like a never-ending puzzle, keeping up with ever-changing tax laws across different countries.
Tell us the key characteristics that make a successful tax professional.
A successful tax professional needs to be as sharp as a tack with numbers, have a knack for problem-solving that rivals Sherlock Holmes and possess the agility of a gymnast to navigate through complex tax regulations.
A tax professional should be able to effectively bridge the gap between technical tax knowledge and practical business understanding, ensuring that the tax advice is clear, compelling, and actionable for the business teams.
And a dash of creativity to find those sweet tax-saving opportunities would be a cherry on the cake!
What is the most common misconception about your work?
A most common misconception about tax folks is that we are just glorified accountants, sitting around doing taxes all day, while in reality we are the unsung heroes of the business world.
We strategise and manoeuvre through the mind-numbing maze of tax laws to be compliant across jurisdictions we operate in. We are tax whisperers, the deduction detectives, the credit crusaders, constantly on the hunt for every possible way to minimise our organisation’s tax burden.
What or who inspires you?
The ever-evolving nature of tax laws and the need for continuous learning inspires me. I enjoy the challenge of problem solving and finding innovative solutions to complex tax issues, which keeps the work engaging and intellectually stimulating.
If you weren't a tax professional, what would you be doing?
If I weren’t in tax, I think I would have loved to serve in the military. The discipline, camaraderie, and sense of purpose really appeal to me.
I have always admired the bravery and dedication of the armed forces, and I like to think I would have made a pretty sharp soldier.
Any advice you would give your younger self?
I would tell my younger self to embrace continuous learning and stay curious. I would also emphasise the importance of building a strong professional network and seeking mentorship early on.
Tell us what makes tax cool!
Tax is at the intersection of law, finance, and business strategy. It plays a critical role in shaping business decisions and can significantly impact a company's bottom line.
The complexity and constant evolution of tax laws require continuous learning and adaptation, which keeps the work intellectually stimulating and challenging.
The opportunity to be a trusted adviser, strategic partner and have a meaningful impact is what makes tax a truly cool and rewarding career.
