- The UAE’s Ministry of Finance (MoF) is modernizing its systems with five major projects to achieve their 2031 vision and promote a more digital government. One key initiative is the “E-Billing System,” aiming to create a high-tech electronic billing system for everyone in the country.
- This system aims to simplify tax filing, improve compliance with tax rules, and reduce tax evasion.
- The project is set to be completed by July 2025.
- Electronic invoices are currently not mandatory but will be enforced in two phases: starting with cross-border transactions over AED 50,000 in July 2025, and extending to cover all transactions in July 2026.
- B2B and B2G transactions will be included, and the Peppol network might be introduced. Businesses should prepare for this transition to e-invoicing as manual preparations consume valuable time.
Source SNI
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