Oleg Dyomin

Experience

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  Ernst & Young

  Aug 1997 - Nov 2005

  Senior Tax Manager, Corporate Tax (Energy Group)

  Advised clients on tax law interpretation. Researched tax issues for client optimal current and future impacts. Ensured information from client was complete and accurate. Prepared tax return for corporate clients. Responded on tax return’s open items and researched on related technical tax issues. Led projects with increasing complexity and progressed responsibilities from year to year. Performed tax due diligence projects. Recruited and oversaw work of junior personnel. Trained junior staff on preparing tax compliance packages for domestic and international clients. • Turned lost opportunities into financial benefit of $3M via receipt of tax refunds for a few clients • Ensured 20% “busy season” group revenue via preparing tax compliance packages annually for local and foreign legal entities• Conducted tax reviews on EY audit clients in Oil & Gas segment to enable successful completion of the annual tax audit• 86% win rate when represented clients in front of the tax authorities to substantiate doubtful issues, including tax authorities’ claims• Identified and presented several tax planning opportunities for clients, which benefited client’s cash flow and resulted in revenue increase • Elaborated tax due diligence process road map, which enhanced effectiveness of the due diligence projects Show less

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  PwC

  Dec 2005 - Jun 2009

  Senior Tax Manager, Tax M&A Group

  Managed full scope financial and tax advisory segment of M&A transactions, including various stages of M&A projects, elaboration of the subsequent tax planning opportunities, creation of alternative structures, tax compliance and reduction of financial burden via reduction of tax burden. Review and elaboration of the tax components for sales purchase agreements and presentation of the results to the clients. Supervised tax responsibilities and ensured tax processes adhere to state and international regulations. Assessed accuracy of tax provisions and resolved tax issues by researching existing tax laws. Due diligence experience with M&A transactions ranging from $5m to more than $1bn in value. Recruited personnel, delivered trainings to and supervised junior staff. Collaborated and performed more than 50 tax due diligence projects with finance and tax due diligence teams. Presented findings to the clients’ management. • M&A group revenue increase by 7% due to expanded clients’ portfolio via developing detailed technical reports and finding additional value added options plus detailed walk through memoranda surrounding M&A transactions • Obtained the most tax beneficial treatment for relevant side of transaction (acquirer or seller) by elaborating acquisition structures to design better business alternatives, which optimized the overall tax burden• Protected client’s future tax position by expanding tax part for several Sales Purchase Agreements to protect client from existing and foreseeable risks• Conducted and organized other M&A related activities and materials, such as tax M&A online, which positively impacted M&A group business activity Show less

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  Self-employed

  Aug 2009 - Dec 2010

  Advisor to Chief Financial Officer

  • Day to day work with and advising Group CFO on various finance and tax issues arising during preparation of the Group for IPO, which included: Guided/Advised domestic and offshore tax structures for the industrial holding aimed at IPO• Presented of the new tax structure to the Board of Directors• Guided company’s management in transition of the business to the new structure• Cross functional collaboration within organization to prepare for and fulfill the restructuring step plan

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  Weatherford

  Feb 2011 - now

  Director Corporate Tax Russia, Kazakhstan, Uzbekistan & Turkmenistan

  Design, organize and lead tax planning, tax compliance, transfer pricing and tax advisory streams of tax functions. Manage tax positions in Russia, Turkmenistan, Kazakhstan and Uzbekistan (RTK Geozone); created US GAAP income tax reporting package for each company in RTK. Organize and control cross-regional statutory accounting and tax teams for 11 Geozone companies. Lead special tax projects related to tax planning, such as deduction of management services and royalties, engagement of leasing structures, improving intercompany financing structures. Develop strategies to substantiate companies’ tax position in response to the tax authorities’ opinion. Manage external tax audits. Identify tax planning opportunities to reduce tax burden. Devise and implement tax planning solutions that take advantage of and comply with the statutory and international tax legislation.Cross functional collaboration on intercompany and side financing, due diligence, debt structuring, net assets improvement, thin capitalization and FX exposure. Complete number of tax due diligence projects to acquire new and to spin off existing business and control finance due diligence. Enhance tax effectiveness of operations by collaborating with finance to design internal processes. Tested local ERP system (1C) after implementation from tax function perspective. • Cash tax saving and annual 15% - 20% G&A cost decrease positive impact via developing tax effective structures by utilizing low-tax jurisdictions like Switzerland and Cyprus• Migrated several legal entities and completed RTK Geozone tax restructuring to reduce number of legal entities from 25 in 2011 to 1 holding and 2 operating companies in 2022 which simplified legal structure and provided significant one-off G&A costs optimization • Decreased effective tax rate from 44% to 20% for US income tax reporting purposes by implementing alternative sales structures and providing IC services to minimize operational and G&A costs Show less