We are living in a global world characterized by international trade, multinational firms and business outsourcing. With an increase in the number of cross-border transactions comes the need for tax advisors, analysts and managers to have an intricate understanding of international taxation, since tax laws, regulations and systems vary among countries.
See Also: How to Become a Tax Adviser
If you are looking to enhance your career prospects by learning about international taxation, there is no better way to do so than the Advanced International Diploma in Taxation (ADIT)
Here is how to go about it:
1. First Things First
The ADIT qualification is offered by UK’s Chartered Institute of Taxation (CIOT), and is available to students from various parts of the world. It is the ultimate mark of quality for people who want to demonstrate their mastery of international taxation practices.
2. Starting Out
To pursue ADIT, you must begin by registering as a student. This involves:
- Creating a website account through the Institute’s portal
- Providing your email address, date of birth, name and other personal details
- Registering as an ADIT student
- Paying for the registration (Your registration will then be activated within 48 hours and you will be issued with a student registration number. Registration is valid for five years, the period within which you should obtain the diploma).
3. Studying for the ADIT Examination
Of course, you must sit an examination to earn a certificate, diploma or degree. To enhance your chances of attaining at least the passing score, you must take your time to study the course materials.
CIOT provides the ADIT syllabus and other relevant resources that you should review to familiarize yourself with what the diploma is all about. As of 2015, the tax jurisdictions that are covered include Cyprus, China, Australia, India, Ireland, USA, Singapore and Malta among others.
Although you can prepare for the exam by self-studying, the option is generally not advisable. Taxation is a very complex discipline in finance, so it is better to learn from experienced professionals.
There are a good number of commercial training providers offering ADIT courses that can ready you for the examination. Examples include:
Visit the CIOT website, for a complete list of recommended course providers.
It is important to note that CIOT does not supervise these training providers, and as such, quality of instruction varies from provider to provider. Do some research before settling on a provider.
4. Taking the Exam
After completing your studies, you can register for the exam online through CIOT’s website. All you need is your student ID and the password you chose when creating the website account.
The ADIT exam, which is offered in June and December, consists of three papers (papers 1, 11, and 111). You can do all three papers in one sitting, or tackle them one by one. Each paper costs £170.
Where do you sit the exam? Well, at a designated exam center, usually in your home country. In June, exams are either computer-based or handwritten, while in December they are strictly computer-based.
Exam results are released within two months. Although you can get a standalone certificate for each paper you complete, the diploma is awarded only after completion of the three papers.
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That’s all you need to do to acquire the ADIT qualification and help individuals and organizations navigate international taxation issues.