Businesses in the UAE are gearing up for the collected works of VAT in 2018. It was earlier estimate that the next tax policy will produce thousands of new vacancy for finance professional.
Taxation roles and other VAT-related position are currently seeing very huge demand for skilled professionals. Among the position that have open up recently include VAT managers, VAT and indirect tax specialist, senior VAT consultants and VAT junior connections and lead partner. More positions are going to open up next year, with enrolment accepted to intensify as the rollout draws closer.
However, UAE professionals with VAT qualifications and knowledge are in short supply, prompt employers to look abroad to fill up the gap and better their recompense packages.
“There is absolutely a shortage of skilled talent accessible,” said Gareth El Mettouri, combine director at Robert Half UAE.
Annalinde Nickisch, HR consultant at The attention Factory, said next year will see a high order for candidates who have the “knowledge and experience in transitioning business process into becoming compliant by the new VAT framework,” as organisations will be forced to amend their system to adjust to a new tax environment.
The talent needs for finance and tax professionals will exponentially progress as the VAT rollout approaches. Among the candidates that will be hugely in demand are those who have the experience in filling sales tax returns. Professional and consultants who can help business conversion into the new VAT framework will likewise be exceedingly sought after.
Many companies will need to re-implement, re-configure, and re-customize their standing systems as a bulky number of installations of common accounting software or in-house designed ERP (enterprise resource planning) solutions may not have the inbuilt capacity to apply tax as VAT onto the billed value.
The turn will lead to a high demand of methodical – functional and techno – functional – consultants who possess acquaintance and experience in transitioning business processes into becoming accommodating with the new VAT framework.
Heading into the New Year, Robert Half has predict that starting salaries for tax-related roles will see a rise of 4 per cent or more than, upper than the average of 2.3 per cent for accounting and finance roles in the region.