- The Emirati Ministry of Finance posted Federal Decree-Law No. 16 of 2024 on July 2
- The decree-law amends the VAT framework
- It includes measures for electronic invoicing systems and documents
- It amends provisions for recovering input VAT through the tax return for the first tax period with conditions
- It amends requirements for VAT registrants to issue invoices for taxable or deemed supplies
- It amends requirements for VAT registrants to issue tax credit notes
- It requires issuing an administrative penalty assessment within five business days for failure to issue a tax invoice or related document on time
- The decree-law took effect on October 30, 2024
Source: news.bloombergtax.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.
