Transfer Pricing careers in the Middle East
23 May 2016

Big 4 tax teams have existed for many years in the Middle East, however only recently has the creation of specialist transfer pricing teams emerged in this market. This has brought with it numerous opportunities for Transfer Pricing professionals to not only experience a different culture but to get in on the ground floor and help grow and develop transfer pricing practices. In an increasingly mature global transfer pricing landscape, these opportunities are rare but highly rewarding. Senior Partners have been recruited to provide a deep level of expertise for a wide range of transfer pricing and restructuring solutions to Multinational clients across the region.

Dubai’s geographical location has made it an important trading powerhouse historically, as well as an international port. The discovery of oil in the 1960’s further accelerated growth with an influx of foreign oil companies and workers adding to Dubai’s already well known trading economy. Over time, diversification has ensured strong economic growth across many other industry sectors including tourism, financial services, transport and real estate.

With the additional, significant global investment from Sovereign Wealth Funds post Global Financial Crisis, this has presented a number of challenging tax and transfer pricing risks to consider. With more than 40 Sovereign Wealth Funds (SWFs) created since 2006 and with approximately 100 Sovereign Funds controlling $5000BN collectively, this figure accounts for more than 2% of the world’s bonds and equities markets. Interestingly, over two-thirds of these assets are held by 6 funds located in the UAE (managing over $800bn in assets), with Saudi Arabia and Kuwait holding $400bn and $300bn respectively.

CAREER DEVELOPMENT FOR TRANSFER PRICING PROFESSIONALS

From a transfer pricing perspective the opportunities in the Middle East are exciting and varied. Joining a fast growing team focusing on outbound planning and restructuring projects not only offers challenging technical experience but you will also be given significant responsibility, thus developing your client management and team leadership skills. Outbound and inbound investment restructuring, transfer pricing, cross-border cash planning and profit repatriation, funding and currency issues, withholding tax and international double taxation issues are just a few of the complex problems facing Multinational companies in the Middle East that candidates taking up the challenge will have the opportunity to work on.

SPECIFIC TRANSFER PRICING CAREER OPPORTUNITIES IN THE MIDDLE EAST

TP International is currently working on a number of specific assignments in the Middle East. Arabic language skills are highly desirable, however fluent/native English skills and complex TP experience from the UK, Australia, Canada and Europe are welcomed. From Consultants through to Senior Managers/Directors, if you are interested in working in Dubai, Doha or Riyadh then please contact Aaron Leslie for a confidential discussion at: al@tpi-search.com