It’s guaranteed that VAT will make you money in 2018!!

January 8, 2018 5:59 pm


We don’t need reminding that every resident in the UAE is paying a 5% VAT on almost everything they buy, so where is the money, you can make from it, coming from?

Jobs!

Now that VAT is here, the UAE will need professionals in the field who can bring expertise in accounting and finance, and apparently, it could pay well!

If you’re looking for a job in the UAE this may be your year!

Paul Drum, Head of Policy at CPA Australia and an expert in taxation laws, said in a Dubai tax workshop late last year that 5,000 finance and accounting vacancies will open up within the GCC as a result of VAT implementation.

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Recruitment specialists Robert Half reported that the top 3 most in-demand roles for 2018 have predicted salaries starting at $52,200 – $65,500 for Credit controllers (at a small company), $92,000 – $141,000 for Tax managers (at a large company), $164,500 – $238,200 for Financial planning and analysis directors (large company).

Hiring for professionals with specialist skills in the UAE will increase this year as well for wide-scale projects in preparation for Expo 2020.

Don’t blow it and ask the wrong questions at the interview.

What shouldn’t you ask?

Oops no.1: What does your company do?

According to Business Insider, questions like this will make you look like you don’t even care enough to run a simple Google search.

Oops no.2: How much does the job pay?

Live Career, a website dedicated to career guidance, reveals that employers want to think that applicants are so in love with the job that money isn’t such a big issue for them.

Oops no.3.  Can I do this job from home?

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As explained by The Balance, financial expert advice platform, asking to work from home implies that employees do not work well under direct supervision.

Oops No.4    How soon can I take a vacation after I start work?

According to Job Hunt, a website for career guidance, asking such a question too early in the process makes employees look more interested in the benefits than in the job.

These are only a few tips that can earn you a good potential of finding a job.

So in case you’re trying to expand your job search, here are the positions that will be mostly in demand in the UAE in 2018.

Paycheck this

According to a recent report by recruitment specialists Robert Half, jobs that will be in demand in 2018 in the UAE are tax managers, credit controllers, anti-money laundering specialists and executive assistants.

UAE Laborers, a website specialized in UAE news, reveals that as UAE firms jump on the digital transformation bandwagon, there will be more employee requited to fill roles in the information technology department.

“There are more opportunities across UAE with nearly half of businesses (48%) looking to focus on the implementation of new advance technologies in 2018, along with talent management and company growth,” it said.

It adds that UAE employment in 2018 will also see a high demand for employees that can handle staff relations, screen/ place workers and organize resources.

While the recent increase in VAT will be translated positively into additional job opportunities, the same cannot be said about overall salaries in the emirate.

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Forget a raise

The UAE will witness a contraction in salaries in real terms as the emirate introduces VAT, according to a very recent report by the human resources consultancy Korn Ferry Hay Group.

“Salaries in the UAE are expected to rise 4.1% this year but after factoring in an expected inflation rate of 4.6 per cent, they will on average contract by 0.5%,” it said in a report.

Meanwhile, Martin McGuigan, partner at Aon Hewitt Middle East, said VAT isn’t going to impact salaries as much as people would like to think it would.

He explains that “UAE has inflation changes more often, so it isn’t the gauge in which employers look to in order to determine pay.”

 

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Dana Halawi
By Dana Halawi
Senior Journalist
Dana Halawi has over seven years of experience in Journalism with articles published in multiple magazines and a newspaper in Lebanon. She specialized in Banking and Finance at the Lebanese American University and has a Master’s degree in International Affairs.



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