DIFC Academy collaborates with PwC’s Academy to upskill UAE tax practitioners

This originally appeared in Gulf Business, Al Zawya and other publications.

DIFC Academy, the education platform of Dubai International Financial Centre (DIFC) has announced a collaboration with PwC’s Academy, the talent and skills development business of PwC Middle East. This is to offer a globally recognised diploma programme aimed at upskilling tax practitioners in the UAE.

Under a Memorandum of Understanding (MoU) and Cooperation Agreement signed between the two entities, DIFC Academy will offer the UAE Corporate Tax Diploma Programme in collaboration with PwC’s Academy, becoming the first institution alongside PwC’s Academy to deliver this accredited certification.

The programme was announced in preparation for the UAE Federal Corporate Tax (CT) Law, which comes into effect on June 1, 2023.

Targeting financial professionals, business owners, and tax professionals across and beyond the DIFC ecosystem, the UAE Corporate Tax Diploma Programme will provide an in-depth understanding and comprehensive knowledge of the new regulations, legislation requirements and their practical application.

The course will also explain how to calculate CT liabilities, comply with payment and filing obligations, and ensure a seamless transition to the new corporate tax regime.

The collaboration strengthens DIFC Academy’s efforts in providing globally recognised certification programmes to build expertise, enhance skills and meet the professional requirements of a broad range of practitioners across the financial services spectrum.

The MoU follows the launch of the first CT workshop with PwC’s Academy in February that received 780 registrations and was attended by 389 professionals. Nearly 50 per cent of the attendees registered their interest in taking the UAE Corporate Tax Diploma programme.

Christian Kunz, chief strategy – Innovation and Ventures officer at DIFC, stated: “Companies operating in the country must equip themselves with a clear understanding of the new tax system, including its obligations and exemptions.

As an entity focused on the future of finance, DIFC is excited to collaborate with PwC’s Academy to provide practical guidance on how to ensure effective tax planning and compliance and broaden the skills of the financial services community.”

Amanda Line, PwC partner and PwC’s Academy Leader, commented: “The Corporate Tax Diploma is the latest addition to our suite of globally recognised tax certifications.

I am confident that our collaboration with the DIFC Academy will further widen the reach of the programme and enable professionals in the finance sector to successfully support their organisations in implementing corporate tax in line with the legal frameworks of the country.”

The UAE Corporate Tax Diploma, delivered by PwC’s Academy, is approved by the UAE Federal Tax Authority (FTA), and the course has been attended by a select group of staff from the FTA and UAE Ministry of Finance (MoF).

The Final Certificate Examination, provided by ATT-UK, is designed for anyone keen on expanding their technical knowledge of the new regulation.