- Launch of Mandatory e-Invoicing Framework: The UAE Ministry of Finance has initiated a plan to modernize the tax compliance system by introducing a mandatory e-Invoicing framework, aiming to enhance operational efficiency and financial transparency for businesses.
- Public Consultation and Stakeholder Engagement: A public consultation was conducted to gather insights from businesses, tax professionals, and stakeholders on the proposed e-Invoicing framework, which was open until February 27, 2025, ensuring inclusivity in the development process.
- Implementation and Compliance Requirements: The e-Invoicing system will utilize a Decentralized Continuous Transaction Control and Exchange (DCTCE) model, requiring suppliers to submit validated e-Invoice data to accredited service providers. The full deployment of the e-Invoicing framework is scheduled for 2026, necessitating businesses to update their invoicing processes and software to comply with the new regulations.
Source SNI
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- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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