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Corporate tax has been introduced in the United Arab Emirates (UAE), on June 1st, 2023. This has created a lot of excitement, and job seekers are eager not to miss out on this opportunity.
Tax professionals from all over the world, particularly from countries like India, Pakistan, and the UK, are considering the UAE as a potential destination for finding opportunities.
While it may be easy for 25-year-old to pack their bags and come to the UAE in search of opportunities, what about mid-level professionals? Should they also consider making a similar move? And if so, how can they get started?
To gain insights into these questions, we had a conversation with Hany Elnaggar, an Associate Tax Partner at a leading tax firm for the Middle East and the Gulf Cooperation Council (GCC) region.
He shares his experiences of starting his career in the UAE and provides valuable advice for those seeking opportunities in the field of taxation.
1. Starting from scratch or a notch lower
I started my career in Egypt (my home country) in the Tax domain. Here I worked with Big 4 firm PwC, the Egyptian government as well as large MNCs.
Somewhere in 2012, while working for a well know MNC group I started thinking about adding more experience and value to my career. I contemplated moving to one of the countries in the GCC.
Tax was not yet implemented in many of the GCC countries however I knew in the next 5 years taxation would be levied.
I realized that starting early would be advantageous.
I decided to move and targeted the UAE and the Kingdom Of Saudi Arabia (KSA) as potential destinations.
UAE was my second choice since it had no corporate tax back in 2013, but it was home to many headquarters, making it essential to gain experience in a tax-levying country.
I received an offer to move to KSA, which surprised some of my friends since I was moving on the same package I had in Egypt. They questioned why I would leave the comfort of my home country. I explained that by taking risks and making bold moves, one can grow and avoid stagnation.
When I joined the new group, I was fortunate that there was no existing tax function, department, or team. This allowed me to start from scratch.
Although I was based in KSA, I also managed tax-related matters for other Middle Eastern countries. This opportunity provided me with valuable experience, expanded my scope, and allowed me to make important connections.
2. In the beginning, do not focus only on Money
If you want to understand what the right salary is in the UAE, you will never know! There is no true benchmark.
Everyone gets paid differently, and the variation is huge.
So even if you start, let’s say, at AED 15,000, but believe you’re worth a lot more, you can achieve that salary after a year or two of gaining experience in the UAE.
The UAE is a market where the right candidates and talent are rewarded accordingly.
3. Stay on top of the game
As a tax advisor, you have to stay on top of your game, not only about Tax matters related to the UAE but also about Tax laws applied in other GCC regions.
Imagine managing multiple countries, not just one. It’s crucial to be well-informed and up-to-date on every single tax update for each country.
If a client calls you and mentions a specific tax development in Qatar, for example, you need to be updated as an advisor. Otherwise, you risk losing your client’s confidence.
Being knowledgeable and staying current with tax regulations and changes across the GCC regions is essential to provide the best service and maintaining your credibility as a tax advisor.
4. Right attitude is key
When it comes to hiring, I have a different approach for juniors compared to senior positions.
However, personally, I tend to minimize discussions about technicalities. I may ask one or two technical questions at most.
But what I am particularly keen on is the candidate’s personality, communication skills, and willingness to listen and learn. These qualities are of utmost importance to me.
It’s relatively easy to teach technical skills and coach individuals on job-specific knowledge, but changing someone’s personality is much more challenging.
The right personality, effective communication skills, and a genuine willingness to learn can be powerful triggers for me to select a candidate for a position.
5. You have to prove yourself
Finding a job in the UAE becomes easier once you have relevant UAE experience, but it is essential to prove yourself first.
The tax field is highly competitive and in high demand in the region. While it may be relatively easy to make a move to the UAE, surviving and establishing yourself is not an easy task.
To succeed, you will need to consistently prove your abilities, knowledge, and expertise in the tax domain. It’s not enough to simply have the experience; you must demonstrate your value to employers and clients through your performance, problem-solving skills, and the results you deliver.
Building a strong professional reputation, consistently delivering high-quality work, and establishing positive relationships with colleagues and clients are crucial in proving yourself in the UAE’s competitive job market.
Remember, it’s not just about getting a job, it’s about continuously proving your worth and establishing yourself as a reliable and skilled tax professional.
Closing…
As a tax professional, if you have a good background and the necessary skills to meet challenges, I don’t see any issue with working in any country.
Even in the past five years, during the implementation of taxes in the UAE, no one had prior experience in the new tax system.
Many individuals came from other countries, and now, after more than five years in the country, they have become highly skilled professionals.
It all comes down to capabilities, being willing to face challenges, having a different perspective, and placing importance on active listening.
This conversation is from The Finance Story Linkedin Live Career Overseas Series. You can find the video link here.
