- UAE Ministry of Finance announced strategic transformational projects
- One project is the implementation of an advanced electronic billing system
- The system aims to automate tax return filing, improve compliance, and reduce tax evasion
- Specific details of the system are yet to be announced
- The project is expected to be completed by July 2025
- E-Billing enables standardized and electronic exchange of tax invoices
- Manual/editable invoices will no longer be issued
- Businesses will be required to adopt compliant e-billing solutions
- E-invoicing systems are environmentally friendly and improve compliance and transparency.
Source: pwc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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