- The UAE is implementing a phased mandatory e-invoicing system, starting January 1, 2027, for companies with over Dh50 million in annual turnover, with smaller businesses following later in 2027.
- A critical deadline for all businesses is July 1, 2026, by which they must select one of 28 approved service providers (ASPs) to prepare for the system’s rollout, handling invoice validation and transmission to government systems.
- The shift from traditional to machine-readable e-invoices aims to enhance transparency for VAT and Corporate Tax, with current estimates suggesting around 90% of businesses are not yet ready, urging quick action on ASP selection, system upgrades, and staff training.
Source Gulfnews
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