- Public Consultation on eInvoicing Framework: The UAE Ministry of Finance has initiated a public consultation on its proposed eInvoicing framework, open until February 27, 2025, aiming to enhance VAT compliance and improve business efficiency through structured and transparent invoicing practices.
- Decentralized Continuous Transaction Control Model: The framework utilizes a Decentralized Continuous Transaction Control and Exchange (DCTCE) model, requiring suppliers to submit eInvoice data to accredited service providers for validation and standardization, with tax authorities receiving real-time transaction data. This model will apply to all businesses, facilitating a phased implementation to minimize disruptions.
- Importance of the Data Dictionary: The eInvoicing Data Dictionary (PINT AE) standardizes mandatory and optional invoice fields across various types, such as standard tax invoices and credit notes, ensuring consistency and regulatory compliance. Businesses must adapt their invoicing processes and software to align with this framework before the full implementation of eInvoicing in 2026.
Source Fintedu
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
