Transfer Pricing Career Development in the Middle East
Choosing a career in Transfer Pricing can be both intellectually and financially rewarding, exposing specialists to a rapidly changing International Tax landscape. Transfer Pricing affects most Multinational firms, with the OECD’s new guidelines set to bring about massive changes in how firms conduct cross-border operations.
Jobs are centred around analysis of internal and external factors affecting MNEs and determining where value is created within the group. With Transfer Pricing being high on the geopolitical agendas, the next few years promises to see an increase in opportunities for TP specialists. Day to day work is diverse and challenging and the common occurrence of TP managers being seconded overseas shows that Transfer Pricing offers greatest mobility of all jobs in the tax profession.
Transfer Pricing takes off in the middle east
TP opportunities have in recent times been plentiful in the Middle East. Kingpin recently reported the new arrangements for various countries in a region which had previously relied heavily on the Oil and Gas revenues.
As we also reported, many MENA nations introduced sweeping changes to their tax structure in the past couple of years. More recent developments have seen MENA states sign up to international TP recommendations from the OECD, as they seek to counter the erosion of national revenue and minimize capital flight. These are major developments for the region and Kingpin has extensive experience of supporting hires in region, helping you take advantage of the region’s incredible growth.
Develop your career in a dynamic environment
A period abroad is always advantageous to one’s career. Working in a new environment develops your flexibility, communication, multicultural adaptability and interpersonal soft skills; all highly valued qualities.
As Transfer Pricing is concerned with cross-border processes (requiring an understanding of various nuances between national regimes), international experience of working in multiple jurisdictions will make you stand out in this field. In addition to the professional advantages, working overseas will also give you a fantastic opportunity to develop yourself personally.
The entire region has diverse and rapidly growing expat communities, with Dubai and Abu Dhabi experiencing tremendous growth in foreign workers during the region’s remarkable rise. However, it is Bahrain which consistently ranks highest for expat living in the region, regularly topping international polls as the best global destination for expats.
Businesses in MENA
Rapid development has seen the likes of Dubai and Abu Dhabi being transformed from desert to bustling cultural and business hubs in a couple of decades. With this dynamic attitude and numerous exciting construction projects in the pipeline, the upward trend looks set to continue for the foreseeable future. The region’s work environment, along with its unparalleled ambition for growth makes it the ideal place for ambitious tax professionals, providing unrivaled opportunity for career development and promotion. The work culture resembles a sales and business development and environment, attracting top global talent with a target-driven mentality a key recipe for success.
The big 4 have an increasingly large presence in the region and will expand operations on the back of new legislation. And with the growth of Transfer Pricing and introduction of VAT in many of the nations, the MENA region is becoming the go-to place for ambitious tax specialists.
Kingpin has many opportunities for Transfer Pricing professionals. If a move to Middle East interests you, feel free to get in touch with our team who are happy to help. Alternatively, have a look at our current vacancies for opportunities around the world.