Interview with Michele Coniglio - KPMG Luxembourg
Author: Dori Felber
Read time: 6 minutes
Michele Coniglio is a junior indirect tax accountant at KPMG Luxembourg. He has been passionate about numbers since high school and has studied accounting since he was 15.
Did you always know you wanted to work in taxation, or was it something you discovered along the way?
I never thought that I would work in taxation because, at least for me, it was never really advertised that you can focus only on a specific field of taxation, rather than being just an accountant. Then, in the last year of my bachelor's, I had to choose from two career path options (taxation or accounting management), and I chose taxation, as during my first two years I discovered that I really enjoy personal, corporate income tax, and VAT.
How did you secure your traineeship at KPMG? Any tips for students looking for internships?
During the last year of my bachelor's, I had to complete a 5-month internship. I got an email from my school letting me know that KPMG had an internship position and anyone interested should send an email to apply to HR. I had to send a motivational letter, which I think was the most important step because that’s how you make the first impression. It is really the time to 'show yourself off’ and show why you would be a good addition. In my motivational letter, I described myself, my goals, my past experiences, and my career aspirations. A strong motivational letter that really shows your personality and ambitions is what will get you noticed. That's the very first step to show that you are very eager for the internship, showing your motivation. For the interviews, my biggest advice is to remain transparent because everyone is different and everyone has a different value that they can add to the team. They like to see your personality, and there is not a set type of person that they are looking for. So really, it’s very important to show who you are, your motivation, and that you want the job. Be yourself, but also prepare for the interview, of course, but most importantly, be natural. Don’t overthink or try to be the type of person you think they would want, because ultimately, especially the HR interview’s purpose is to get to know you, as well as the interview with the partner.
What were your main responsibilities during your traineeship?
If you do an internship at KPMG, you will not make coffee. As an intern, you are given clients with various economic activities, and you really get to see what it’s like to be an indirect tax accountant. I had to do VAT returns, review and analyse various communications from the Luxembourg VAT authorities, such as VAT assessments, tax statements, penalties, changes in reporting regimes, VAT audits, and any other correspondence. I also participated in client calls, which was very valuable. Additionally, I had the opportunity to familiarise myself with the Luxembourgish VAT law and how to apply the following questions: who is a taxable person, what type of operation it is, where is the place of taxation, is there a VAT exemption that applies, and who is liable to pay VAT. Furthermore, I supported the team and met the clients’ expectations (which means that I leveled up the deliverables).
What was the most valuable lesson you learnt from that experience?
I learnt how to work efficiently and be very organised in order to be able to perform to the level that is required of me. Additionally, I learnt that I can ask for clarifications about something that I don’t understand, and it won’t be seen negatively. Having an internship at a big four was quite daunting, but asking questions shows them that you want to learn and that you’re also not afraid to ask for support. Everyone is there to grow with you, and you should embrace the learning process, as it’s natural that you don’t know some things at the beginning of your career.
How did your internship prepare you for your current role at KPMG?
I had really nice colleagues around me who taught me more about VAT and how to actually apply my knowledge that I learnt in university in practice. It also prepared me for the type of work ethic needed in order to do well at such a firm.
What does a typical day look like for you as an Indirect Tax Accountant?
It depends on the season because there is a period that is always very busy. But in general, the first thing I always do is look at my emails, catch up, and see if I have any new emails from clients. Then I look at the work that I need to do for the day (because we have a ‘dashboard’ which shows us the work that we need to do for our clients). I then do a number of different things, but to summarise, I analyse and treat the VAT of our clients on their invoice, look at their general ledgers, and also communicate with clients. Additionally, I sometimes have meetings where we review the work done for a specific client or to talk about a specific issue, for example. My job is really client-based.
What are some of the biggest challenges in your role?
The biggest challenge, I would say, is to finish all of our clients’ VAT compliance in time. It is really important to stay on top of all of the work, because sometimes a lot of work may pop up with a deadline for the next day. Staying on top of your work is especially important during our busy season, where every client needs their VAT to be done at the same time.
How does working in indirect taxation differ from other areas of accounting?
It is a more specific field because here there is only a focus on indirect taxation; for example, we focus on companies being compliant with their VAT obligations in Luxembourg, which means that we ensure that the correct VAT is paid to the authorities. If you are an accountant, you are responsible for recording and processing information about economic entities, thus managing the accounts of companies. So the tasks of an accountant and indirect tax accountant are for the most part different, although there are times when an accountant has to deal with indirect tax, of course.
What skills are essential to succeeding in your current position?
You must have good time management, as we have very busy seasons. Also, you need to have good communication skills, because even though you work independently, you also work in a team. You must also be pragmatic and very detail-oriented.
How would you describe the work culture at KPMG in Luxembourg?
Even though it is a big firm, they do care about the employees wellbeing; however, on the other side, there is a certain level of excellence that they require from you.
Do you find the taxation industry in Luxembourg competitive?
Yes, I think that it is quite competitive, but I feel that that is to be expected. Luxembourg is the main financial hub in Europe, which creates numerous opportunities, but that also means that it attracts a lot of people. So it is important that you stand out.
How do you manage your time between work, further studies, and personal life?
KPMG offers me a well-balanced life. Working for a big four does not mean that I am constantly working non-stop. KPMG puts a big emphasis on a work-life balance, organising a lot of fun events and opportunities. I also get time off for studying for my exams, especially that they provide me with the opportunity to do the Formation des expert-comptable at the University of Luxembourg. So all in all, I have a good work-life balance. I work, but I also have time to have a life because, for example, I have a girlfriend, I go to the gym, and I have time to hang out with my friends and go on holiday.
What do you like most about working in Luxembourg? Are there any downsides?
Luxembourg is very international, so you meet many different people from all over the world. You can build a really nice network and friendships. Working amongst such diversity allows me to learn a lot from the different perspectives and knowledge that everyone has. For the downside, I don't think there is really anything; the only thing maybe is that it is quite hard to find accommodation in Luxembourg; so many people live outside Luxembourg. I have colleagues that live in Belgium, France, and Germany, but it is not that far away, so it is very feasible.
