UAE, 24 October, 2024 : The UAE Ministry of Finance has unveiled an overview of the country’s eInvoicing model, which will feature a Decentralized Continuous Transaction Control and Exchange system. Key milestones include :
Q4 2024 - Accreditation of service providers
Q2 2025 - Einvoicing related legislation updates
Q2 2026 - Phase 1 Go-live of einvoicing
https://mof.gov.ae/wp-content/uploads/2024/09/UAE-eInvoicing-Programme-2024-final.pdf
The introduction of eInvoicing highlights the UAE's dedication to driving innovation and digitalizing its economy. This modern invoicing system simplifies, standardizes and automates processes, allowing near real-time invoice exchange and seamless tax reporting to the UAE Federal Tax Authority. Both businesses and government entities are set to gain substantial benefits from these advancements.
Source : https://mof.gov.ae/einvoicing/
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