UAE: Salaries of tax experts, chartered accountants growing by up to 10% a year
Salaries of tax professionals in the UAE have been increasing by between 5 to 10 per cent annually, said Krishnan Narayanan Venkat, chairman of The Institute of Chartered Accountants of India (ICAI), Abu Dhabi Chapter, in an interview with Khaleej Times.
Rohit Dayma, vice chairman of ICAI, Abu Dhabi Chapter, said since the introduction of value-added tax (VAT), corporate tax, transfer pricing and regularising the overall accounting profession, there is a requirement to have financial statements audited and signed, driving demand for tax experts and chartered accountants.
'The demand for chartered accountants is increasing across different levels, which supports the overall rise in compensation as well,' he said.
The Abu Dhabi Chapter currently has around 1,500 members. It added 200 new members each year in 2023 and 2024. It is estimated that there will be approximately 12,000 to 15,000 ICAI chartered accounts working across the UAE.
On February 22 to 23, the ICAI Abu Dhabi Chapter hosted its 36th Annual Seminar – 'Futuronomics: The Evolution of Opportunities' which was attended by over 700 members and delegates, making it one of the largest gatherings of finance professionals in the region.
The two-day seminar provided a platform for insightful discussions on global economic transformations, technological advancements, and emerging financial trends, addressing the challenges and opportunities shaping the future of finance.
Chief guest Milind Deora, a member of Rajya Sabha, India, delivered a keynote address. He emphasised the importance of policy innovation and technology-driven solutions in building a progressive India.
He also underscored the pivotal role that chartered accountants play in shaping society and driving economic growth.
Charanjot Singh Nanda, president of ICAI India, praised the Abu Dhabi Chapter for its commitment to professional excellence and underscored the need for continuous upskilling in the era of digital transformation. He emphasised the role of chartered accountants in driving economic growth and maintaining financial integrity, urging members to stay ahead of technological advancements and regulatory changes.
Krishnan said during the interview that the demand for chartered accountants has been increasing over seven years since the introduction of VAT because of the compliance and regulatory requirements.
'Initially VAT was introduced, and then quite a lot of changes happened in the compliance requirement. In 2025, a corporate tax was introduced. Because of the corporate tax, transfer pricing, compliance and the global minimum tax coming into effect, demand for CAs, particularly from India, has been increasing quite a lot. Even the ICAI Abu Dhabi chapter added close to 200 members in 2024 and similar numbers in 2023. This shows that the demand keeps on increasing for the CAs in UAE,' said Krishnan, who is also a partner in Anderson, Abu Dhabi.
He noted that Andersen employed close to 60 new people in the last year alone both in the Abu Dhabi and Dubai offices.
Rohit added that compliance requirements around tax are increasing, hence, there are a lot of opportunities for CAs, particularly in consulting and advisory businesses.
'Many businesses are looking for external consultants for tax planning and compliance. It is creating more opportunities for professionals and services firms as well,' he said, adding that companies also require experts who understand the cross-border tax implications as well.
Krishnan also revealed that there is a notable shortage of CAs in various fields because of several factors.
'One is the regulatory changes, which are complex. Abu Dhabi is the capital of capital, and there are a lot of mergers and acquisitions (M&As) taking place. When there are M&As taking place, naturally, there will be a role for chartered accountants for advisory roles and due diligence. The demand has been increasing for the last seven years, but in the last 2-3 years, it is increasing significantly. Moreover, e-invoicing is going to come next year,' he added.
When asked whether artificial intelligence (AI) is replacing chartered accountants, Krishnan said: 'It is not and it is not going to. There is a myth that AI can replace a charter accountant or a human being. Yes, some routine tasks can be replaced by AI, but human intelligence is always required in any field. When the computer was introduced, there was a talk about job losses. If we analyse now, the number of jobs has increased significantly,' he said. He added that CAs need to understand how technology has been evolving, and take advantage of AI and ChatGPT.
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