UAE corporate tax arrival triggers recruitment fever

• Companies in the UAE are recruiting tax specialists from abroad
• 40% increase in tax roles, says accountants association head
• Corporate tax at a standard rate of 9% came into effect on June 1

UAE companies advertised for double the number of tax accountants in the first quarter of 2023 compared to the same period last year, ahead of the introduction of the Emirates’ corporate tax. 

The Association of Chartered Certified Accountants (ACCA) saw a 40 percent increase in tax roles last year compared to 2021.

“Recruitment is big time right now,” said Fazeela Gopalani, head of ACCA Middle East, in a video interview with AGBI. 

• Why the UAE is introducing corporate tax
• UAE exempts public benefit entities from corporate tax
• Corporate tax will make UAE ‘more open for investors’

“More organisations are recruiting tax specialists from abroad to come to the UAE… in order to get better prepared for the implementation of the corporate tax,” she said. 

Corporate tax at a standard rate of 9 percent came into effect on June 1 for companies with taxable income of over AED375,000.

The introduction of the corporate tax is going to make it “significantly more complex” for businesses, according to a Dubai-based lawyer.

It will force companies to hire tax professionals within the organisation instead of outsourcing jobs. 

“I am seeing more roles come on to the market as a result of the introduction of corporate tax as compared to value added tax,” said Shiraz Khan, partner at Al Tamimi & Company.

Watch the full video to learn more about the impact of the introduction of corporate tax on recruitment.