Hatice Ozcan
Nov 1, 2024
UAE Sets Stage for Modernized E-Invoicing with New Mandate Timeline
The UAE Ministry of Finance (MoF) has reinforced its commitment to launching an e-invoicing mandate to modernize and streamline tax processes. The newly launched e-invoicing outlines the mandate’s objectives to reduce manual intervention, improve data security, and optimize reporting efficiency.
Key Highlights of the UAE E-Invoicing Mandate:
Framework: The system will operate on a five-corner model using the Peppol network for B2B and B2G transactions, with certified service providers transmitting data directly to the UAE Tax Authority.
Timeline:
End of 2024: Accreditation opens for service providers.
2025: E-invoicing legislation to be enacted.
July 2026: Phase 1 goes live, requiring taxpayers to implement and report via certified e-invoicing solutions.
The mandate underscores a crucial transition for UAE businesses, positioning them to ensure compliance and prepare for a more secure, automated tax environment.