Rakesh Jindal

Experience

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  Louisiana State Department of Revenue & Taxation

  Jan 1983 - Jan 1989

  Senior Tax Auditor

  Based out of Dallas, TX. conducted tax audits of large corporations with operations in Louisiana. Ensured compliance with state income, franchise, sales and use, payroll, and other taxes. Consistently delivered comprehensive tax audits for oil & gas, chemical, manufacturing, technology, railway, airline, construction, and additional industries.

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  Enserch Corporation

  Jan 1989 - Jan 1996

  Director of Tax Compliance

  Oversaw tax compliance across all jurisdictions for this multi-billion dollar energy company acquired by Energy Future Holdings, including research, analysis, and strategic recommendations to senior management on tax consequences of proposed acquisitions, dispositions, and internal restructurings. Developed long-range tax strategies to minimize worldwide tax liability, managing all U.S. consolidated income and franchise tax returns, tax audits, facilitation of corporate tax counsel on M&A activities, and advisement on tax accounting matters. Over two years as Director, saved >$70M in taxes on the major disposition of assets. Monitored tax legislation, rulings, regulations, and case law to rapidly communicate their practical impact to management, developing interpretation procedures/systems to implement changes and maintain compliance. Reviewed E&P computations and advised management on non-taxability of corporate dividends. Led transition of all tax issues to the purchaser of a significant Enserch business unit. Reviewed highly complex contracts and performed tax due diligence on major transactions. Managed IRS tax audit for multiple years with exceptional results. Implemented procedures to greatly improve the compliance cycle. Show less

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  Foster Wheeler

  Nov 1996 - Feb 2015

  Vice President- Tax

  Faced with a high ETR, no strategic focus on tax issues, high departmental costs, subpar business unit support, and high turnover, stepped in as head of the tax department. Changed the culture, reduced ETR to ~20%, and eliminated negative impact on EPS. Led a multi-billion dollar worldwide tax function and 20-30 U.S. direct reports/global functional staff. Led financial tax reporting and complex tax audits with multiple foreign jurisdictions, saving $200M+ in tax settlements (2010 to 2015). Built a corporate tax policy, completed a complex strategic cash repatriation for foreign operations (10+ countries), influenced/set transfer pricing policies.As #2 under the CFO, steered critical changes in financial/business management strategies and global partnerships. Evolved tax function from compliance to value-added. Advised and implemented corporate inversion in 2001. Catalyzed strategic relocation of the financials/senior leadership team to Switzerland in 2010 and negotiated a favorable ruling from UK tax authorities for management relocation to the UK.Served as a core member of the corporate executive management team, advising on the global tax situation of consolidated operations and recommending tax strategies for developing markets. Participated in quarterly Board meetings. Conducted due diligence on corporate M&A activities and other complex reorganizations. Monitored changes to tax legislation, court decisions, tax rulings, and tax treaties. Facilitated negotiation of senior credit facility with a group of banks, advising on covenants/structural issues to avoid future negative impact of collateral. Show less