- Introduction of Legislative Updates: The UAE Ministry of Finance has introduced updates to legislation following the launch of a dedicated e-invoicing obligation landing page, reinforcing the country’s commitment to implementing e-invoicing by the established timelines.
- New Federal Decree-Laws Issued: Federal Decree-Law No. 17 of 2024 amends key provisions of Federal Decree-Law No. 28 of 2022 regarding tax procedures, while Federal Decree-Law No. 16 of 2024 updates certain provisions of Federal Decree-Law No. 8 of 2017 related to Value Added Tax (VAT).
- Revised Definitions: The updates include several new and revised definitions to support the e-invoicing system, ensuring clarity and consistency in terminology related to electronic invoicing.
- Input VAT Recovery Requirements: Article 55 has been amended to mandate that taxable persons retain tax invoices compliant with the Electronic Invoicing System as a prerequisite for input VAT recovery, applicable to all electronic invoices issued.
- Compliance and Penalties: Amendments to Articles 65 and 70 specify that taxable persons must issue e-invoices, credit notes, and related electronic documents according to system standards, with Article 76 introducing penalties for non-compliance regarding the timely issuance of these documents.
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