Job vacancies have just been opened for professionals in the UAE who are looking to work for companies or in the government in relation to the implementation of the value-added tax (VAT).
VAT managers, consultants, auditors, accountants, analysts and call centre agents, among others, are now being sought after, with hiring expected to pick up as the launch draws closer.
The UAE’s Ministry of Finance, which oversees the rollout and administration of the new tax system, also announced that it is looking for new employees to join the “tax administration team” in the UAE.
“As part of the UAE’s plan to implement the Federal Tax System, and establish the Federal Tax Authority, the Ministry of Finance announces its need to source qualified candidates [for several positions],” the ministry said on its website.
The UAE and the rest of the Gulf Cooperation Council (GCC) states had earlier agreed to start collecting a 5 per cent VAT on goods and services starting from January 1, 2018. Recruitment specialists have said that the launch of VAT will open up employment opportunities for jobseekers.
The law detailing the tax system has yet to be approved and no details as to which goods will be covered. Businesses in the UAE can start registering for VAT three months before the rollout.
At least 28 positions have opened in the Ministry of FInance, including compliance and enforcement director, tax auditor, analyst, registrations staff, contact centre agent, purchasing specialist, legal counsel and administrative assistant, among many others.
“Those who wish to apply to any of the [listed vacancies] , view the job purpose of each position and send your CV,” the notice reads.
Advisory and consulting firms who look to assist companies on their tax reporting and compliance obligations are also creating VAT teams. Some firms looking to prepare for the new tax system are likewise hiring accountants who have knowledge of VAT implementation in UAE.
Sanjay Modi, managing director at Monster.com for Asia Pacific and Middle East, however, noted that some organisations might just opt to utilise existing staff for VAT compliance.
“While the big four and other firms will scale up their tax advisory capabilities, we also predict an increase in training as financial professionals in house will look to upskill and add value to their experience,” Modi told Gulf News.
“For SMEs, fees of the big firms will not be cost effective, therefore, there may be a rise in small firms and independent consultants who are able to offer support to such companies on their tax reporting and compliance obligations.”
Hiring has only started and jobseekers will soon see more vacancies over the next few months, according Annalinde Nickish of The Thought Factory.
“Very few companies have initiated the recruitment process [so far]. This suggests that we will soon see the frequency of recruitment of finance and tax professionals increase exponentially as the VAT rollout approaches,” Nickisch told Gulf News.
“During such time of increased need, the value of such employees will become significantly inflated. Recruitment should therefore be prioritised.”
Source: Gulf News