- UAE VAT Law has been amended through Federal Decree Law No. 16 of 2024
- Amendments pave the way for the introduction of e-Invoicing in the UAE
- Ministry of Finance published a dedicated section on e-invoicing on their website
- Companies need to assess the impact of the new regime on their operations
- Failure to implement e-Invoicing correctly is a core business issue
- Effective from October 30, 2024
- New definitions introduced for Electronic Invoice, Electronic Credit Note, and Electronic Invoicing System
- Recovery subject to retention of Electronic Invoices
- Tax Invoice and Credit Note issuance rules updated to include electronic versions
- Taxpayers subject to Electronic Invoicing System must issue electronic invoices and credit notes
Source: alvarezandmarsal.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.
