Massive Rise in Tax Jobs in UAE after Implementation of UAE Corporate Tax Law

Massive Rise in Tax Jobs in UAE after Implementation of UAE Corporate Tax Law_World Peace Academy_Diploma in UAE Corporate Tax

In this article we will have a look at the Massive Rise in Tax Jobs in UAE after Implementation of UAE Corporate Tax Law.  as we all know that the UAE has declared that starting from June 1, 2023, there will be a new federal corporate tax of 9% applied to business profits. The purpose of this is to align the country with many other governments globally and to expand its sources of income beyond relying solely on oil.

With these fresh tax regulations in place, upcoming businesses will need strong support from their tax teams. Over a million companies functioning in the UAE will now have the responsibility to keep thorough financial records and submit tax returns. As a result, a remarkable range of job opportunities will emerge in the accounting sector. Let’s delve into the diverse employment prospects that the implementation of UAE Corporate Tax will bring to the finance industry.

 

Job Openings in Finance, Accounting, & Taxation after implementation of UAE Corporate Tax Law

The UAE’s introduction of the corporate tax is anticipated to generate different types of job roles in the finance sector:

1. Improved Opportunities for Finance Professionals:

  • Chartered accountants, accountants, tax practitioners, company secretaries, and experts in company laws could all enjoy enhanced job prospects.
  • Since these professionals will handle tax-related tasks, their salaries might also see an increase.
  • Furthermore, those skilled in this field might receive promotions as well.

2. Opportunities for International Finance Professionals:

  • Finance experts from around the world interested in working in the UAE should refine their tax-related skills.
  • Current accountants, tax practitioners, and other finance professionals in the UAE are advised to undergo additional training to enhance their abilities and secure better-paying positions.

3. Direct Hiring of Finance Degree Students for Taxation, Accounting and Finance Roles:

  • Graduates with finance degrees and those specializing in corporate tax could encounter exciting employment options.
  • Businesses will require experts in Value Added Tax (VAT) and qualified professionals proficient in accounting and taxation to offer effective tax solutions.
  • While taxation is already part of B.Com. and M.Com. courses, the nuances of UAE Corporate Tax Law should be studied separately.
  • Finance students who train with tax practitioners during their studies will find it easier to secure UAE jobs after completing their degrees. Undertaking a minimum six-month internship with tax consultants or at Chartered Accountant (CA) firms is highly recommended.

4. Job Prospects in Related Fields like Tax &Financial Consultancy and Training:

  • The training sector and tax & financial consultancy services are expected to experience substantial growth.
  • Small and medium-sized businesses in the UAE are projected to seek consultancy services for tasks like corporate tax and  VAT registration and employee training.

5. Opportunities in Financial Audit and Tax Audit:

  • A multitude of positions for auditors are likely to open up in audit firms, involving financial assessments and audits.
  • Many companies have already begun hiring audit professionals due to the need for various certifications and attestations.
  • Those specializing in company laws might also find numerous opportunities due to the diverse appeals and hearings connected to the audit process.

 

Corporate Tax Diploma UAE | Diploma in UAE Corporate Tax by World Peace Academy

 

With this Massive Rise in Tax Jobs in UAE after Implementation of UAE Corporate Tax Law, there will be a need of learning the UAE Corporate Tax Laws. In order to help the students and professionals learn the complexities of UAE Corporate Tax, World Peace Academy has designed a Diploma Course in UAE Corporate Tax. Our Diploma in UAE Corporate Tax will help you to smoothly navigate through the complexities of UAE Corporate Tax Law and uplift your career in UAE.