The Institute of Chartered Accountants in England and Wales (ICAEW) and PwC Academy Middle East have partnered to introduce a new tax pathway, with an aim to expedite career growth for finance professionals in the region.

This initiative is designed to provide finance professionals with an accelerated route to the ICAEW Business and Finance Professional (BFP) designation, incorporating United Arab Emirates (UAE)-specific tax expertise.

Professionals who have completed either the UAE Corporate Tax Diploma or the UAE VAT Compliance Diploma with PwC Academy can now gain an exemption from the ICAEW Business and Finance (BFP) qualification and designation.

For those students working towards the ICAEW BFP designation, there is also the option to take the UAE tax variance instead of the standard ICAEW tax exam.

This alternative is tailored to provide a deeper understanding of the UAE’s tax environment, enhancing the local relevance of the qualification.

The partnership means that participants pursuing the ICAEW BFP qualification will be eligible for tax exemptions upon successful completion of the tax diplomas accredited by the Association of Taxation Technicians (ATT).

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The ICAEW BFP designation is highly regarded in the finance and accountancy sector, especially with the inclusion of a UAE-specific tax variation.

PwC Academy’s UAE Corporate Tax and VAT Compliance Diplomas, which are approved by the UAE Federal Tax Authority and accredited by ATT, now contribute credits towards the BFP designation.

Completing the UAE-specific tax diplomas will also exempt students from ICAEW’s Principles of Tax (PoT) module.

This exemption is a significant advantage, enabling them to achieve the BFP designation and professional status from ICAEW in just 12 months, which is said to be the fastest route to a professional qualification in the finance and accountancy space.

ICAEW Middle East head Hanadi Khalife said: “The recognition of the UAE Tax Diploma by ICAEW ensures that finance professionals in the region have access to training that is both globally respected and tailored to local needs.

“This partnership demonstrates our commitment to building a skilled workforce capable of supporting the UAE’s economic ambitions and navigating its regulatory complexities.”