AHMEDABAD: Chartered accountants (CAs) from the city are trading local ledgers for global opportunities, venturing abroad to capitalize on booming tax and compliance systems.
For these number wizards, Dubai is a favoured destination to open offices as the UAE’s VAT and corporate tax mirrors Indian systems. Many CAs are also collaborating with accountants in the US and the UK, leveraging their expertise to cater to international clients.
The UAE introduced a 5% VAT in 2018, followed by a 9% corporate tax on business profits in 2023. According to the Institute of Chartered Accountants of India (ICAI), these changes have opened the floodgates for accountants from Gujarat, with many setting up offices in Dubai in the past two years and others preparing to make the move.
“Two years ago, we established an office in Dubai. Around 25 CAs from Gujarat have already started offices in Dubai, and at least 20 more are in the process of doing so. Indian accountants have an edge because our standards match global benchmarks, and we are known for our diligence and expertise. Outsourcing to India is also increasing,” said Aniket Talati, partner at Talati & Talati LLP and former president of the ICAI.