- The Ministry of Finance in the UAE has announced five strategic initiatives to enhance the country’s competitiveness, which includes the implementation of an e-invoicing system.
- The projects are in line with the new government work methodology and the concept of transformational projects in the country.
- The initiatives are related to supply strategy for the federal government, transparency in climate spending data, public-private partnership, tax, and electronic billing system.
- The Ministry of Finance, in collaboration with the Federal Revenue Service, is developing the e-billing system to automate the delivery and sending of tax returns and reduce tax evasion.
- More details regarding the e-invoicing system are expected to be announced soon by the UAE tax authority.
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